Series 53: NIC And TIC

Taken from our Series 53 Online Guide

NIC and TIC

The issuer will request that potential underwriters submit their bids in one of two forms:

  • Net interest cost (NIC) is an expression of the total cost to the issuer in current dollars. This includes the cost of all interest payments until the bonds are retired.
  • True interest cost (TIC) incorporates the

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