the following is causing a bit of confusion...
In some countries, e.g. Brazil, I saw the bonds are quoted in "Unitary prices" (PU).
If we pick an example where:
Unitary price = 10,400 (Market price) Par value = 1,000
What is the math behind to convert the market price to a "% of par price"? I saw Anbima, the main brazilian exchange, quotes price as 10,400; while some brokers as say 1,040 (which would be the price as "% of par").
Is it accurate to say the below?
Price as % of par = (Traded price / Par value) * 100