释义 |
DictionarySeezero-coupon bondNoninterest-bearing note
Noninterest-bearing noteA note without periodic interest payment, but selling at a discount and maturing at face value. See: Zero-coupon bond.Zero-Coupon BondA bond that pays no interest. It is sold at a discount from par and matures at par. These are fairly illiquid investments because they do not benefit from changes in interest rates. However, they tend to be low-risk. Zero-coupon bonds fluctuate in price, sometimes dramatically, with changes in interest rates. Sometimes zero-coupon bonds are issued as such; other times they are bonds stripped of their coupons by a financial institution and resold as zero-coupon bonds. A zero-coupon bond is less formally known as a zero. |