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Holiday Growth Notes

The notes are purchased at a discount to the face value of the note. Mamie’s will retire the note at face value. The difference or profit is an added to the accrued interest to determine the total return. 

Calculations based on purchase date of Dec 8th, accrued interest will adjust according to purchase date.

 

Apple Pie Note
The Apple Pie Note has a $12,000 face value (the amount to be paid by Mamie’s Pies to the note holder). However, the note is offered at a purchase price of $10,000.  The $ 2,000 difference is profit on the note which is added to the accrued interest to determine the total return.

The accrued interest is calculated from the date the note is purchased to the date the note is retired (paid) by Mamie’s Pies. 

For example, the Apple Pie note pays 9% per annum interest calculated on the $ 12,000 face value of the note, or $ 2.96 per day in interest. Assuming the note is purchased on December 8th, 2021, and the note is paid on the due date of January 20th, 2023 (408 days), Mamie’s Pies shall pay the note holder $ 1,207 in accrued interest. 

Therefore, the $ 2,000 profit on the note plus the $ 1,207 in accrued interest combine to return the noteholder of $ 3,207. 

A $ 3,207 return on the $ 10,000 purchase price of the note amounts to a return of 32%.

 

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