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commodity-backed bond

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Commodity-backed bond
A bond with interest payments tied to the price of an underlying commodity.
commodity-backed bond
A rare bond that has its interest payments and/or principal repayment tied to the price of a commodity such as silver or oil. Although such a bond carries a relatively low interest rate at the time of issue, it gives the investor a hedge against inflation since the price of the commodity is likely to rise. These bonds are usually issued by firms having a stake in the commodity used to back the security. Also called gold bond.
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