The record date is the date on which the issuer checks who holds the bond. Whoever holds it on that date receives the next interest or principal payment, even if they sell before the payment date.
For listed NCDs the record date is usually set some days before the payment date, as stated in the offer document. If you buy after the record date, the coupon goes to the seller; on the exchange this is reflected in the price and accrued interest you pay.
Related
Related terms: Accrued interest · Coupon rate
Before investing, look up the issuer: all its outstanding bonds, rating history and disclosure documents.
This page is for information only. It is not investment advice, a credit rating or a recommendation to buy, sell or hold any security. Facts are taken from the issuer's own documents and the sources linked on this page; check them with the source before investing.
