What price did each of the bonds? sell

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Iron Maiden became the first? heavy-metal band to sell bonds when it arranged a? $30 million deal in February 1999. The collateral on the bonds? (and source of cash flow for interest and principal? payments) consisted of future royalties from the? band's albums like? "The Number of the? Beast." Each bond in the issue had a face value of ?$1,000?, a term of 19 years and paid semiannual coupons at the rate of 5?%. The yield to maturity on the bond was 5.25?%. At what price did each of the bonds? sell?

Reference no: EM132392797

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