Systemics Goal - issue anything on net 1) Research… 2) Pick an MVP → Bonds! 3) Deep Dive • Parameters Issuer, face, date, … • Coupons by induction, sub-bonds • Fine print legal prose → T&Cs Pacific Rail Road Bond, 1865: public domain. Source https://en.wikipedia.org/wiki/File:San_Francisco_Pacific_Railroad_Bond_WPRR_1865.jpg 50