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income bond |
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Income Bond A type of debt security in which only the face value of the bond is promised to be paid to the investor, with any coupon payments being paid only if the issuing company has enough earnings to pay for the coupon payment. Notes: The income bond is a somewhat rare financial instrument which generally serves a corporate purpose similar to that of preferred shares. It may be structured so that unpaid interest payments accumulate and become due upon maturity of the bond issue, but this is usually not the case as such, it can be a useful tool to help a corporation avoid bankruptcy during times of poor financial health or ongoing reorganization.Income bond A bond whose payment of interest is contingent on sufficient earnings. These bonds are commonly used during the reorganization of a failed or failing business.
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Top honors among the 6 funds we selected went to the Neuberger Berman High Income Bond Investors fund (NBHIX). For a current income bond, the Wizard shows the current interest rate, the bond's next payment and final maturity dates, and allows a user to enter the amount of interest deferred from other bonds applied to the purchase of the current income bond. The Income Builder Fund is comprised of four funds that represent these asset classes - the First American High Income Bond Fund, U. |
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