I was reading a bond description from "Security analysis" and found this excerpt "Cudahy Packing Company First Mortgage 5s, due 1946." Can some one explain me please the meaning of this sentence. I understand "Cudahy Packing Company" is the name of the company and they have issued a 1st Mortgage bond, what I didn't understand is last words i.e. "5s, due 1946".

EDIT 1: Updated question as per suggestion.

  • 1
    What country are you in / the bond from? If it's India, then since it will have been pre-independence, it may be that bonds were denominated in British currency, in which case 5s would be 5 shillings (where there were 20 shillings to the pound). Also, you have 1938 in your title, and 1946 in the question... you might want to edit to make them consistent.
    – TripeHound
    Commented Oct 15, 2020 at 21:24
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    @TripeHound It is an American corporate bond. Cudahy Packing Company.
    – Flux
    Commented Oct 15, 2020 at 22:58
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    Why do you have "Rail Road Bond 5s" in the title, but "Cudahy Packing Company First Mortgage 5s" in the body?
    – Flux
    Commented Oct 17, 2020 at 4:25
  • Thank you for your suggestions, I have updated the question. Commented Oct 17, 2020 at 4:31

1 Answer 1


Let's take an example — "XYZ Widget Corporation 5s, due 2030":

  • "XYZ Widget Corporation" is the issuer name.
  • "5" is the coupon rate.
  • "s" means semiannual coupon payments.
  • "2030" is the maturity year.

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