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Merck 2.45% 06/50 Bond

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Price
Yield

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Bond Description

Current Coupon

2.45%

Maturity Date

24/06/2050

Credit Risk

Low

Currency

USD

Seniority

Senior Unsecured

Coupon Type

Fixed-Fixed (For Life)

Country

USA

Industry Type

Pharmaceuticals

Callable

Yes

Perpetual

Guarantor

None

Bond RatingsUnrated

Issuer Rating¹

Unrated

Last Rating Action

Not Applicable

Issuer Rating Watch/Outlook

Not Applicable

Issue Rating²

Unrated

Last Rating Action

Not Applicable

Issuer Rating Action History

06/12/2022

A+

Affirmed

Rating Outlook Stable

04/10/2022

A+

Affirmed

Rating Outlook Stable

05/10/2021

A+

Affirmed

Rating Outlook Stable

Yield Analysis

Yield³

5.91

Yield to Call

5.96

Z Spread (bps)

168.2

Duration

15.51

Next Coupon Date

24/06/2025

Accrued Interest

1.014

Next Call Date

24/12/2049

Next Call Price

100

Liquidity

Liquid

Next Reset Date

Not Applicable

Reset Index (Current Level)

Not Applicable

Spread

Not Applicable

Reset Index

Not Applicable

Bond Additional Information

ISIN Code

US58933YBB02

Registration Type

Underwritten

Amount Issued

1,250,000,000

Amount Outstanding

1,250,000,000

Issue Date

24/06/2020

Issue Price

97.645

Coupon Frequency

Day Count

30/360

Redemption Value

100

Min. Denomination

2,000

Footnotes:
¹ Issuer rating is the Long-Term Issuer Default Rating (IDR). Ratings data provided by Fitch Ratings.
² Issue rating is the Long-Term Issue Rating. Ratings data provided by Fitch Ratings.
³ Yield displays YTM. Exceptions are perpetuals, which will display "Not Applicable", and fix-to-float bonds, which will assume constant rate of coupon projection.
Last traded data sourced from BondCliQ.