IIRC, baud rate is the number of states you push down the line per second. If you have 1200 baud and 4 different states, you have 2400 bps. IIRC, phone line modems never got much past 9600 baud - what increased was the number of states (I think they were called symbols) you could pass through the line and hence the number of bits per state.
Baudot is also the 5-bit code you see on some paper tapes.
Baudot is also the 5-bit code you see on some paper tapes.