zero coupon bond

Noun

 * 1)  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.

Translations

 * Czech:
 * Finnish:
 * German: ,
 * Swedish: nollkupongobligation, nollkupongare