If you were interested in buying a bond listed on a security dealer's quote sheet at 96-5 points, you would have to pay $96,500 for the bond.

Name: If you were interested in buying a bond listed on a security dealer's quote sheet at 96-5 points, you would have to pay $96,500 for the bond.
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The notation "96-5 points" in bond pricing means 96 and 5/32 percent of the bond's face value, not $96,500. For a standard bond with a face value of $100,000, the price would be $96,156.25 (96.15625% of $100,000).

If You Were Interested in Buying a Bond Listed on a Security