Just a guess. But if the bond has aged beyond it's 12 years it is no longer guaranteed to be 4% or higher."This initial minimum rate applies for a bond's original maturity period and is subject to change as a bond enters an extended maturity period. When a bond enters an extended maturity period, its guaranteed minimum rate (for the new period) becomes the minimum in effect at that time for new issues."Sounds like they're saying your new guaranteed rate will be whatever rate is tied to new bond issues.
Best Of |
Favorites & Replies |
Start a New Board |
My Fool |
BATS data provided in real-time. NYSE, NASDAQ and NYSEMKT data delayed 15 minutes.
Real-Time prices provided by BATS. Market data provided by Interactive Data.
Company fundamental data provided by Morningstar<