zero coupon bond
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|Noun||1.||zero coupon 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|
governing, government activity, government, governance, administration - the act of governing; exercising authority; "regulations for the governing of state prisons"; "he had considerable experience of government"
corp, corporation - a business firm whose articles of incorporation have been approved in some state
bond certificate, 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