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The following table illustrates the ISTAR Refresh/Valuation derivation for bond characteristic codes.
Value | Derivation |
|---|---|
1 | If DB% and Call Flag = "Y" and Make Whole Call Flag = "Y" |
2 | If DB% and Call Flag = "Y" and No values in the call schedule are below par value |
3 | If DB% and Call Flag = "Y" and there are values in the call schedule below par value |
4 | Term Loan Securities – This characteristic code is restricted to items captured in scope of SSAP No. 43R – Loan-Backed and Structured Securities |
5 | Variable coupon bonds where the interest payments vary during the life of the transaction |
6 | If Processing Security Type = "DBFBIO" |
7 | Bonds where the issuer’s obligation to make payments is determined by the performance of a different credit other than that of the issuer, which could be either affiliated or unaffiliated |
8 | If Processing Security Type like "DB%" and Mandatory Convertible Flag (10354) = "Y" |
9 | Other types of options solely at the discretion of the issuer |