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Finance Dictionary and Glossary of Investment Terms
A bond featuring coupons that must be presented to the issuer in order to receive interest payments.
A debt obligation with coupons attached that represent semiannual interest payments.
An unregistered, negotiable bond on which interest and principal are payable to the holder, regardless of whom it was originally issued to. The coupons are attached to the bond, and each coupon represents a single interest payment. The holder submits a coupon, usually semi-annually, to the issuer or paying agent to receive payment. Coupon bonds are being phased out in favor of registered bonds. also called bearer bond.