Every term is defined twice: once the way a filing would put it, and once the way somebody would explain it to you across a table. The second one is usually the one that sticks.
Showing 5 terms
The fixed periodic interest a bond pays, expressed as a percentage of its face value.
Not your return. Buy above face value and the premium is a loss spread across the holding period, which yield to maturity captures and the coupon does not.
A tradeable loan on which the issuer pays a fixed coupon for a defined term and returns the face value at maturity.
Because the coupon is fixed, the price is what has to move to keep the bond competitive with what new borrowers are paying. That seesaw is why debt funds bought for safety can lose money in a rate-hiking cycle.
Interest a bond has earned since its last payment date but not yet paid out, which belongs to the seller when the bond changes hands between payments.
Where the quoted price includes it, the chart climbs gently between payments and steps down by a whole coupon at each one — a sawtooth that is a calendar, not a fall. Where it does not, the buyer pays it on top of the screen price.
A bond price quoted without the interest accrued since the last payment date; the same bond with that interest added is the dirty price, and it is the dirty price that settles.
Which of the two your screen is showing decides whether the cash leaving your account matches the chart. The chart answers it for you: look at two consecutive interest record dates and see whether there is a step of roughly one coupon.
Borrowing raised from overseas lenders or bond buyers in foreign currency, within the framework the Reserve Bank prescribes for who may borrow, from whom, for how long and at what all-in cost.
The headline coupon is not the cost. The cost is the coupon plus the hedge — and where it is unhedged, the cost is unknown until the rupee has moved.