Introduction

Searching for and understanding all the features of a bond can be confusing — every bond comes with its own set of numbers, terms, and quirks. This guide breaks down the key bond characteristics you’ll see when browsing bonds on Silo, helping you make sense of what each metric means and how it affects your investment.

1. Maturity Date

The maturity date marks the end of a bond’s life. It’s the date when the issuer repays the bond’s principal amount — typically $1,000 per bond — to the investor.
On Silo, you’ll find the maturity date displayed on the maturity date slider at the top of the issuer’s page.
Knowing the maturity helps you plan your investment timeline and liquidity needs.

2. Yield to Maturity (YTM)

Yield to Maturity is the total estimated return you can expect if you hold the bond until it matures. It accounts for:

• The bond’s current market price,
  
  
• Coupon payments (interest you receive), and
  
  
• The time remaining until maturity.
  

On Silo, this figure is prominently displayed at the top of the screen, making it easy to compare bonds by their expected overall return.

3. Bond Price

A bond’s price is its current market value — how much investors are willing to pay for it right now.
Bond prices fluctuate based on factors like interest rates, the issuer’s credit quality, and how close the bond is to maturity. When rates rise, bond prices typically fall, and vice versa.

4. Bond Rating

The bond rating is a measure of the bond’s creditworthiness — essentially, how risky it is. Ratings are assigned by agencies such as Moody’s, Standard & Poor’s, and Fitch.

• High ratings (AAA–A) indicate lower default risk.
  
  
• Lower ratings (BB and below) indicate higher risk — and usually higher potential yields.
  

5. Issue Date

The issue date is when the bond officially becomes available for investors to buy. It marks the start of the bond’s life and the point from which coupon payments and maturity countdowns begin.

6. Coupon Rate & Coupon Date

• The coupon rate is the fixed interest rate the issuer pays to you, the bondholder. It’s expressed as a percentage of the bond’s par value (usually $1,000).
  
  
• The coupon date is when those payments occur — most commonly twice per year (semiannually), though some bonds pay annually.
  
  

Together, these determine how much regular income you’ll earn from the bond.

7. Callable Bonds, Call Price & Call Date

Some bonds are callable, meaning the issuer can choose to repay (or “call”) the bond before its maturity.

• The call price is what the issuer pays you if they redeem the bond early — often slightly above par value.
  
  
• The call date is the first date they’re allowed to do so.
  
  

Issuers typically call bonds when interest rates drop, allowing them to refinance their debt at lower costs.

8. Puttable Bonds

A puttable bond gives you, the investor, the right to sell the bond back to the issuer before its maturity — typically at par value.
This feature can be useful if interest rates rise or if you need to free up capital early.

9. ISIN (International Securities Identification Number)

Every bond is assigned a unique ISIN, a global identification code that distinguishes it from every other security.
Tip: In the Silo app, you can hold down on the ISIN number to look it up online for more detailed information.

Conclusion

Understanding a bond’s characteristics — from maturity and yield to rating and callable features — gives you the clarity to choose investments that match your goals and risk tolerance. Once you know what each term means, you’ll be able to navigate Silo’s bond marketplace confidently and compare opportunities with ease.