Before a new Eurobond prices, the banks circulate a short term sheet. Knowing what each line means makes it much easier to compare deals.
| Line | What it tells you |
|---|---|
| Issuer / Guarantor | The legal entity that owes the money, and any entity guaranteeing it. |
| Ratings | Expected ratings of the bond (not necessarily the same as the issuer's). |
| Status | Senior unsecured, subordinated, secured, etc. |
| Currency / Size | Denomination currency and amount, sometimes "benchmark" (typically at least 500 million). |
| Settlement date | When money and bonds change hands. |
| Maturity | Final repayment date. |
| Coupon | Rate, frequency and day-count basis. |
| Re-offer spread / yield / price | Where the bond is sold to investors. |
| Optional redemption | Call features, make-whole and par-call dates. |
| Denominations | Minimum and integral multiples. |
| Listing / Governing law | Exchange and legal system. |
| Selling restrictions | Where and to whom the bond can be sold (e.g. Reg S, no retail in EEA/UK). |
| ISIN | Identification code once allocated. |
Selling restrictions deserve attention: many new issues are marked "no PRIIPs KID", meaning they are not made available to retail investors in the EEA or the UK.
General information only, not investment advice.