Maturity at issue. For example, a five-year note has an original maturity of five years; one year later it has a maturity of four years.
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The time between the issue and the maturity date for a particular bond. For example, if a company issued a 20 years bond five years ago, its original maturity is 20 years, while its current maturity (or time between the present date and maturity) is 15 years. See also: Yield to maturity, Duration.
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The period between a security's maturity date and issue date. A bond issued 15 years ago that has an additional 10 years to maturity had an original maturity of 25 years. See also current maturity.
Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.