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A zero-coupon bond (also discount bond or deep discount bond) is a bond in which the face value is repaid at the time of maturity. [1] Unlike regular bonds, it does not make periodic interest payments or have so-called coupons, hence the term zero-coupon bond. When the bond reaches maturity, its investor receives its par (or face) value.
Best CD rates today: As yields slip under 5%, you can still grab strong deals on shorter terms — Sept. 25, 2024
The daily portion of the discount uses a compounded interest formula with the principal recalculated every six months. The following table illustrates how to calculate the original issue discount for a $7,462 bond with a $10,000 repayment and a three-year maturity date: [2]
Using the example, the IO is created by taking 1% of coupon off the 6% original coupon gives an IO of 1% coupon off $100mm notional principal, but this is by convention 'normalized' to a 6% coupon (as the collateral was originally 6% coupon) by reducing the notional principal to $16.666667mm ($100mm / 6).
Here are some of the most popular items on deep discount in November, per Consumer Reports. Also: 10 of the Most Expensive Luxury Brands Online in 2023. Laptops and Computers on Sale in November.
Uninsurable homes are selling for all cash at a deep discount. Alena Botros. September 24, 2024 at 1:40 PM. Christian Monterrosa/Bloomberg via Getty Images.
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A certificate of deposit (CD) is a time deposit sold by banks, thrift institutions, and credit unions in the United States. CDs typically differ from savings accounts because the CD has a specific, fixed term before money can be withdrawn without penalty and generally higher interest rates. The bank expects the CDs to be held until maturity, at ...
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