clip

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Clip

To separate a coupon from a bearer bond. A bearer bond contains no ownership information and the physical bearer is presumed to be the owner. The bond contains physical coupons that must be clipped in order to receive the interest payments. Bearer bonds have not been issued in the United States since 1982, and thus clipping has become a less common activity, applying only to long maturity bonds issued before then.

clip

To detach the interest coupons from a bearer bond. These coupons must be presented to a bank, a brokerage house, or the issuer's agent in order for the holder of the bearer bond to receive interest payments.
References in periodicals archive ?
They took the lead when Gudjohnsen's powerful shot clipped off Wright to send the keeper the wrong way.
Mido first had a header blocked then his shot clipped off a Blades player in the box, beat Kenny but bounced back off the woodwork to the surprised United keeper, who was facing his goal and fumbled the ball over the line.
Wheeler, riding for Team Lutterworth Cycle Centre this season, clipped off the front in the closing stages with Martin Smith (Team Milton Keynes) and although their advantage was never more than a handful of seconds, they held off the chasers to the line where the Coventry rider took the verdict.
Gudjohnsen blasted a shot that clipped off Wright to send the keeper the wrong way for the Bolton opener.
Boro responded, Wray testing home shot-stopper Wayne Brown with a low 20-yarder while Barnes twice had the ball clipped off his toes when ready to pull the triggger.
Svensson impressed in his first senior game since March last year as Saints took a 27th-minute lead when Powell's shot clipped off Preston defender Callum Davidson and flew past stranded keeper Carlo Nash and into the net.
Danny Mills raced forward and hit a hopeful left-foot shot that clipped off Maccarone and left keeper Gary Walsh rooted and bemused.
But Dudek could do nothing about Real's 39th-minute opener, as the Liverpool defence stood off to allow Luis Figo time to drill in a low shot which clipped off Stephane Henchoz before nestling in the bottom corner.
He might have had a hat-trick, but hit his shot too well and it clipped off the keeper.
That scare inspired Bolton with Jensen's well- weighted pass putting in Jamaican Ricardo Gardner for a shot that clipped off Stowell's gloves and went in off the underside of the bar.
Steele failed to come for a Hammill cross and when Ward's first shot thudded back off the post, his rebound clipped off Vaughan and squirted in.