Characteristics of Bonds o Bonds pay fixed coupon(interest) payments at fixed intervals(usually every 6 months)and pay the par value at maturity. SISISISISI SHSM 0Characteristics of Bonds •Bonds pay fixed coupon (interest) payments at fixed intervals (usually every 6 months) and pay the par value at maturity. 0 1 2 . . . n $I $I $I $I $I $I+$M