You Have To Take a Very Long View of Bonds Like These

One of the theories of bond investing is that if you buy bonds and rising interest rates cause the market value of the bond to fall, well, you can always hold the bond, enjoy the semiannual interest payments, and wait for the bond to mature.  But if the bond is one of these?

Buy

AA+

Aa2

UNIVERSITY PA BONDS  91481CAA8 Make Whole Call

4.674

09/01/2112

25

89.87500

5

28

5.204

--

No

$35.70

$22,504.45

Yes, maturing 9/1/2112 -- or a bit less a century from now.  If you buy those, your grandchildren may enjoy the receiving the full value of the bond.  But by then, the currency may be the yuan, or tree bark chips, or the last surviving factory .22 LR ammo.