WordNet
- a bond issued with detachable coupons that must be presented to the issuer for interest payments (同)bearer bond
- a bond that is issued at a deep discount from its value at maturity and pays no interest during the life of the bond; the commonest form of zero-coupon security (同)zero-coupon bond
- a certificate of debt (usually interest-bearing or discounted) that is issued by a government or corporation in order to raise money; the issuer is required to pay a fixed sum annually until maturity and then a fixed sum to repay the principal (同)bond certificate
- a superior quality of strong durable white writing paper; originally made for printing documents (同)bond_paper
- issue bonds on
- bring together in a common cause or emotion; "The death of their child had drawn them together" (同)bring together, draw together
- a close personal relationship that forms between people (as between husband and wife or parent and child)
- fastening firmly together (同)soldering
- (dentistry) a technique for repairing a tooth; resinous material is applied to the surface of the tooth where it adheres to the tooths enamel
- a negotiable certificate that can be detached and redeemed as needed (同)voucher
- a test sample of some substance
- United States civil rights leader who was elected to the legislature in Georgia but was barred from taking his seat because he opposed the Vietnam War (born 1940) (同)Julian Bond
- British secret operative 007 in novels by Ian Fleming (同)James Bond
- a brilliant and notable success
PrepTutorEJDIC
- 〈C〉『縛る物』 / 《通例複数形で》『束縛』,拘束,かせ / 《しばしば複数形で》(血縁,義理などの)『きずな』,縁 / 〈C〉契約 / 〈C〉『証書』,証文;『債券』,公債 / 〈U〉(石・れんがなどの)つなぎ方,組積み / 〈U〉保税倉庫入り / 〈U〉接着,接合;接着剤,接合剤 / 〈品物〉'を'担保とする / …‘の'保証人となる / (債券などを発行して)…‘の'支払いを保証する / …'を'つなぐ,結ぶ(bind together) / つながる
- クーポン(切り取って使う切符) / (広告・商品につく)景品引き換え券,優待券 / (公債の)利札(りふだ)
- 不意に一激 / 大当たり,大成功 / =coup d'etat
Wikipedia preview
出典(authority):フリー百科事典『ウィキペディア(Wikipedia)』「2014/10/26 07:08:45」(JST)
[Wiki en表示]
Uncut bond coupons on 1922 Mecca Temple (NY, NY, U.S.A.) construction bond
A coupon payment on a bond is a periodic interest payment that the bondholder receives during the time between when the bond is issued and when it matures.
Coupons are normally described in terms of the coupon rate, which is calculated by adding the total amount of coupons paid per year and dividing by the bond's face value. For example, if a bond has a face value of $1,000 and a coupon rate of 5%, then it pays total coupons of $50 per year. For the typical bond, this will consist of semi-annual payments of $25 each.[1]
The coupon rate is the yield that the bond pays on its issue date; however, this yield can change as the value of the bond changes and thus giving the bond's yield to maturity. Bonds having higher coupon rates are therefore more desirable for investors than those having lower coupon rates.[2][clarification needed]
Overview
The origin of the term "coupon" is that bonds were historically issued in the form of bearer certificates. Physical possession of the certificate was proof of ownership. Several coupons, one for each scheduled interest payment over the life of the bond, were printed on the certificate. At the date the coupon was due, the owner would detach the coupon and present it for payment (an act called "clipping the coupon").[3]
Not all bonds have coupons. Zero-coupon bonds are those that pay no coupons and thus have a coupon rate of 0%. Such bonds make only one payment: the payment of the face value on the maturity date. Normally, to compensate the bondholder for the time value of money, the price of a zero-coupon bond will always be less than its face value on any date before the maturity date. During the European sovereign-debt crisis, some zero-coupon sovereign bonds traded above their face value as investors were willing to pay a premium for the perceived safehaven status these investments hold. The difference between the price and the face value provides the bondholder with the positive return that makes purchasing the bond worthwhile.
Between a bond's issue date and its maturity date (also called its redemption date), the bond's price is determined by taking into account several factors, including:
- The face value;
- The maturity date;
- The coupon rate and frequency of coupon payments;
- The creditworthiness of the issuer; and
- The yield on comparable investment options.
See also
- Credit (finance)
- Credit spread (options)
- TED spread
- Yield curve
References
- ^ Sullivan, Arthur; Steven M. Sheffrin (2003). Economics: Principles in action. Upper Saddle River, New Jersey 07458: Pearson Prentice Hall. p. 277. ISBN 0-13-063085-3.
- ^ Swedy, Brad (2013-07-30). "What is Coupon rate on bonds". Coupons Lady.
- ^ Belson, Ken (2006-02-12). "Coupon Clipping, the Old-Fashioned Way". New York Times. Retrieved 2009-03-03.
Bond market
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- Bond
- Debenture
- Fixed income
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Types of bonds by issuer |
- Agency bond
- Corporate bond (Senior debt, Subordinated debt)
- Distressed debt
- Emerging market debt
- Government bond
- Municipal bond
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Types of bonds by payout |
- Accrual bond
- Auction rate security
- Callable bond
- Commercial paper
- Convertible bond
- Exchangeable bond
- Extendible bond
- Fixed rate bond
- Floating rate note
- High-yield debt
- Inflation-indexed bond
- Inverse floating rate note
- Perpetual bond
- Puttable bond
- Reverse convertible
- Zero-coupon bond
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Bond valuation |
- Clean price
- Convexity
- Coupon
- Credit spread
- Current yield
- Dirty price
- Duration
- I-spread
- Mortgage yield
- Nominal yield
- Yield to maturity
- Z-spread
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Securitized products |
- Asset-backed security
- Collateralized debt obligation
- Collateralized mortgage obligation
- Commercial mortgage-backed security
- Mortgage-backed security
- Yield-curve spread
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Bond options |
- Callable bond
- Convertible bond
- Embedded option
- Exchangeable bond
- Extendible bond
- Option-adjusted spread
- Puttable bond
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Institutions |
- Commercial Mortgage Securities Association (CMSA)
- International Capital Market Association (ICMA)
- Securities Industry and Financial Markets Association (SIFMA)
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UpToDate Contents
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English Journal
- A rapid, non-destructive methodology to monitor activity of sulfide-induced corrosion of concrete based on H2S uptake rate.
- Sun X1, Jiang G2, Bond PL3, Wells T4, Keller J5.
- Water research.Water Res.2014 Apr 22;59C:229-238. doi: 10.1016/j.watres.2014.04.016. [Epub ahead of print]
- Many existing methods to monitor the corrosion of concrete in sewers are either very slow or destructive measurements. To overcome these limitations, a rapid, non-invasive methodology was developed to monitor the sulfide-induced corrosion process on concrete through the measurement of the H2S uptake
- PMID 24810739
- Quantum finance Hamiltonian for coupon bond European and barrier options.
- Baaquie BE.
- Physical review. E, Statistical, nonlinear, and soft matter physics.Phys Rev E Stat Nonlin Soft Matter Phys.2008 Mar;77(3 Pt 2):036106. Epub 2008 Mar 5.
- Coupon bond European and barrier options are financial derivatives that can be analyzed in the Hamiltonian formulation of quantum finance. Forward interest rates are modeled as a two-dimensional quantum field theory and its Hamiltonian and state space is defined. European and barrier options are rea
- PMID 18517460
- Feynman perturbation expansion for the price of coupon bond options and swaptions in quantum finance. II. Empirical.
- Baaquie BE1, Liang C.
- Physical review. E, Statistical, nonlinear, and soft matter physics.Phys Rev E Stat Nonlin Soft Matter Phys.2007 Jan;75(1 Pt 2):016704. Epub 2007 Jan 11.
- The quantum finance pricing formulas for coupon bond options and swaptions derived by Baaquie [Phys. Rev. E 75, 016703 (2006)] are reviewed. We empirically study the swaption market and propose an efficient computational procedure for analyzing the data. Empirical results of the swaption price, vola
- PMID 17358289
Japanese Journal
- Higher order asymptotic coupon bond option valuation for interest rates with non-Gaussian dependent innovations (推測における統計的情報とそれに関連する話題--RIMS共同研究報告集)
- Higher Order Asymptotic Coupon Bond Option Valuation for Interest Rates with non-Gaussian Dependent Innovations (Statistical Information in Inference and Its Related Topics)
- 構造モデルに基づく格付リンククーポン社債の評価法(セッション2)
- 矢萩 一樹,宮崎 浩一
- 情報処理学会研究報告. MPS, 数理モデル化と問題解決研究報告 2005(126), 25-28, 2005-12-20
- 格付リンククーポン社債は, 将来の格下げ時にはその時点の格付けに見合うクーポンを支払うことで, 格下げに伴う信用力の低下によって投資家が被るキャピタルロスを低減するような仕組みとなっている.格付けを明示的に取り扱うことができる社債評価モデルにJarrow, Lando and Turnbullモデル(以下JLTモデル: 1997)があるが, 格付け低下によるクーポン支払いの増加が企業財務の悪化をも …
- NAID 110003488678
Related Links
- coupon bondとは。意味や和訳。《金融》利付き債券. - goo英和辞書は14万項目以上を収録し、発音、音声、慣用句、例文が分かる英和辞書です。 coupon bondの意味 - 英和辞書 - 英語辞書 - goo辞書 |
- For far-dated cash flows, the price is much cheaper than buying the cash flows through a zero-coupon bond ladder.
★リンクテーブル★
[★]
- 関
- affinity、associate、bind、binding、bond、combine、conjoin、conjugate、conjugation、conjunction、connect、connection、connective、connectivity、couple、dock、engage、engagement、join、ligate、linkage、symphysial、symphysic、union
[★]
- 関
- associate、bind、binding、bonding、combine、conjoin、conjugate、conjugation、conjunction、connect、connection、couple、dock、engage、engagement、join、ligate、linkage、symphysial、union