What is new debt? New debt is a kind of fund investment, which obtains income by subscribing for newly listed bond fund products. General bond fund products will be issued at a lower price at the initial stage of listing. At this time, when investors buy this kind of bond, it is called new debt. In the end, not every investor can buy it, and the winning investor will be selected by lottery. The purchase price of winning the lottery is the selling price, which requires less expenses, and then you can get more profits and less risks by selling it. Therefore, there are more investors making new debts and the competition is greater.
Premium rate: that is, before the expiration of the warrant, how much percentage does the warrant investor need to change the stock price to achieve the balance of the expiration date. Premium rate is one of the data to measure the risk of warrants. The higher the insurance rate, the more difficult it is to make peace.
Calculation method: call warrant premium rate = [(exercise price+call warrant price/exercise ratio)/underlying securities price-1]× 100%. Simply put, investors can regard the premium rate as one of the investment costs. For example, the exercise price of a warrant is 100 yuan, the current share price is 95 yuan, the current share price is 1 yuan, and the exercise ratio is 1: according to this calculation, the premium rate of the warrant is 6.3%. In other words, if investors buy warrants at the current price and hold them until maturity, the relevant share price must rise by at least 6.3% to about 65,438+.
Premium rate is an important index in warrant value analysis, which reflects the deviation between warrant price and exercise price and stock price. As a right to buy and sell stocks, warrants have time value and theoretical value. Therefore, it can be used as a substitute for ordinary stocks. According to law of one price, the warrant price is closely related to the stock price.