zero coupon bond
nounDefinitions
A bond (e.g., corporate debenture or government debt) that has no coupon (i.e., pays no…
A bond (e.g., corporate debenture or government debt) that has no coupon (i.e., pays no interest), during the life of the issue. Such a bond is initially sold at a discount to its face value. The rate of return to the holder is derived from the gradual appreciation as the security moves toward maturity.
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sense glosses and etymology drawn from English Wiktionary · source · CC-BY-SA