zero coupon

Noun

 * 1)  A non-existent coupon.
 * They decided to issue a note with a zero coupon.
 * 1)  A financial security that does not pay interest periodically.
 * Their trademarked financial structure involved issuing several kinds of zero coupons.

Synonyms

 * zero

Derived terms

 * zero coupon bond
 * zero-coupon bond
 * zero-coupon note