A bond that makes no periodic interest payments, but sells at a deep discount from its face value. At the maturity date, the investor will receive the face value of the bond, plus the interest that has accrued over a fixed term.
A bond that makes no periodic interest payments, but sells at a deep discount from its face value. At the maturity date, the investor will receive the face value of the bond, plus the interest that has accrued over a fixed term.
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