Patent ID: 8756147

Claim:
A computer-implemented method, comprising: receiving, by a specifically programmed computer system, first data, regarding: 1) at least one first callable municipal debt issuance of at least one first municipal debt issuer in an amount of at least 10 million in a particular currency, and 2) at least one first embedded call option for the at least one first callable municipal debt issuance, wherein the at least one first municipal debt issuer purchased the at least one first embedded call option; calculating, by the specifically programmed computer system, a first actual cost of the at least one first embedded call option at a first purchase date based, at least in part, on a first difference between a first price of at least one first non-callable municipal debt issuance and a second price paid by at least one investor for the at least one first callable municipal debt issuance; calculating, by the specifically programmed computer system, a first current market value of the at least one first embedded call option based, at least in part, on a present value savings from a hypothetical refunding of the at least one first callable municipal debt issuance with the at least one first non-callable municipal debt issuance; calculating, by the specifically programmed computer system, a first return on investment for the at least one first embedded call option based, at least in part, on: 1) the calculating the first actual cost of the purchased at least one first embedded call option at the first purchase date, and 2) the calculating the first current market value of the at least one first embedded call option; receiving, by the specifically programmed computer system, a second data regarding a plurality of refunding candidate options; calculating, by the specifically programmed computer system, a second return on investment for each refunding candidate option from the plurality of refunding candidate options, based, at least in part, on a plurality of iterative calculations with a present cash flow, a future cash flow, and a predetermined maturity period of each refunding candidate option; calculating, by the specifically programmed computer system, a projected refunding savings yielded from substituting the at least one first embedded call option with each refunding candidate option from the plurality of refunding candidate options; comparing, by the specifically programmed computer system, the first return on investment for the at least one first embedded call option to: 1) the second return on investment for each refunding candidate option from the plurality of refunding candidate options and 2) the projected refunding savings; and selecting, by the specifically programmed computer system, based on the comparing step, a particular refunding candidate option from the plurality of refunding candidate options to substitute the at least one first embedded call option.