[Verse 1] When companies need cash to grow and thrive They craft a promise, keeps their dreams alive A bond's a loan with terms written in stone You lend your money, they'll pay back what's owed [Chorus] Par value, coupon, maturity date Three pillars standing at the financial gate Par's the face amount they'll repay Coupon's your interest along the way Maturity's when the contract ends today Bonds are promises that borrowers make [Verse 2] One thousand dollars is the standard face That par value sets the repayment base Semi-annual payments flow your direction Coupon rate determines your collection [Chorus] Par value, coupon, maturity date Three pillars standing at the financial gate Par's the face amount they'll repay Coupon's your interest along the way Maturity's when the contract ends today Bonds are promises that borrowers make [Bridge] Governments and corporations alike Issue these IOUs when funds run tight Fixed income streams for patient investors Debt securities with built-in protectors [Verse 3] Ten year treasury or corporate note Each bond's a contract that the issuer wrote Principal returns when time expires While coupons feed your income fires [Final Chorus] Par value, coupon, maturity date Three pillars standing at the financial gate Par's the face amount they'll repay Coupon's your interest along the way Maturity's when the contract ends today Bonds are promises that borrowers make [Outro] Debt securities with features clear Foundation knowledge you'll hold dear
← Bond Characteristics and Markets | Government Bonds: Treasury Securities and Sovereigns →