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 ?
Typical clips off the pads and off-side drives propelled the 30-year-old into the 40s while Jayawardene showed glimpses of his own class to keep a similar pace.
A mechanical harvester clips off these individual greens at the surface of the field.
you go apologize to him before the sun clips off the mountain tops.