一般情况下，投资者可以通过以下两个渠道将债券兑现：一是在公开市场上转卖给其他投资者，二是等待债券到期后由发债公司赎回。

Usually, there are two ways an investor can cash in a bond: by selling it to another investor on the open market, or by waiting until the issuer redeems the bond upon its maturity.

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一旦利率根据贷款条件到期要恢复正常水平，数百万人将付不起抵押贷款而很可能因丧失抵押品赎回权而失去房屋。

Now that the interest rate is due to reset on these loans, millions will not be able to afford their mortgage and will likely lose their homes to foreclosure.

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在硬性期权锁定中，投资者在到期之前无权赎回其投入的资金；在软性期权锁定中，他们能够早早的退出但不得不支付据说有3 - 5%的赔偿金。

In a hard lock-up, investors have no right to redeem before their time is up; in a soft lock-up, they can get out early but have to pay a redemption fee of, say, 3-5%.

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You're given coupon payments every six months and then, when the bond matures,you get your money back.

每六个月你会收到一次利息,当债券到期,你可以赎回本金

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