Clean Note Price

German translation: der clean Note Price

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09:58 Jan 23, 2003
English to German translations [PRO]
Bus/Financial
English term or phrase: Clean Note Price
"bereinigter Kurs"? Wieso bereinigt? Um was? Saisoneffekte?
Kein Kontext, leider. Nur" der clean net price beträgt soundsoviel".
Steffen Pollex
Local time: 07:19
German translation:der clean Note Price
Explanation:
Sorry, but it probably isn´t translated. Aren´t you in fact quoting this in German yourself? Whether there is a more German version, I have no idea. But I can tell you what it is.

The point is that the value of a bond or note which has e.g. monthly coupons fluctuates during the month, because a bond that is going to pay its coupon tomorrow is obviously worth more today than it will be in two days time when the payment has been made. Its value rises gradually during the period, and falls suddenly when the coupon payment is made.

This is very inconvenient, not to say confusing, to work with, so traders and their support teams mostly work with a fictitious price, the "clean price", where this effect is smoothed out to provide a reference point which, all other things being equal, is steady. Of course it is never the case that all other things are equal: that is exactly why the clean price is needed, otherwise it is hard to see market movements in the price, because they are masked by the coupon cycle effect. The price may go down when the value has increased!

But the real price is the "dirty price", the confusing price. Because if I buy that bond today, I will actually get the coupon payment tomorrow.

Traders, as you know, are not renowned for their linguistic purity, and I doubt there is a translation other than "clean price".
Selected response from:

Chris Rowson
Local time: 07:19
Grading comment
Thank you all! The point is that I know WHAT it is. But HOW to say this in adequate German...
4 KudoZ points were awarded for this answer



Summary of answers provided
4der clean Note Price
Chris Rowson
4Preis ohne Stückzinsen
Alexandra Becker


  

Answers


8 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5
Preis ohne Stückzinsen


Explanation:
...

Alexandra Becker
Germany
Local time: 07:19
Native speaker of: Native in GermanGerman
PRO pts in pair: 808
Login to enter a peer comment (or grade)

28 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5
der clean Note Price


Explanation:
Sorry, but it probably isn´t translated. Aren´t you in fact quoting this in German yourself? Whether there is a more German version, I have no idea. But I can tell you what it is.

The point is that the value of a bond or note which has e.g. monthly coupons fluctuates during the month, because a bond that is going to pay its coupon tomorrow is obviously worth more today than it will be in two days time when the payment has been made. Its value rises gradually during the period, and falls suddenly when the coupon payment is made.

This is very inconvenient, not to say confusing, to work with, so traders and their support teams mostly work with a fictitious price, the "clean price", where this effect is smoothed out to provide a reference point which, all other things being equal, is steady. Of course it is never the case that all other things are equal: that is exactly why the clean price is needed, otherwise it is hard to see market movements in the price, because they are masked by the coupon cycle effect. The price may go down when the value has increased!

But the real price is the "dirty price", the confusing price. Because if I buy that bond today, I will actually get the coupon payment tomorrow.

Traders, as you know, are not renowned for their linguistic purity, and I doubt there is a translation other than "clean price".

Chris Rowson
Local time: 07:19
Native speaker of: Native in EnglishEnglish
PRO pts in pair: 198
Grading comment
Thank you all! The point is that I know WHAT it is. But HOW to say this in adequate German...
Login to enter a peer comment (or grade)



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