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Original-Issue Discount Bond

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original-issue discount bond
A bond issued at a discount from par value. The discount occurs when the coupon on the bond is less than the market rate of interest for a bond of similar risk and maturity. Also called deep-discount bond. Compare minicoupon bond. See also zero-coupon bond.
Original-Issue Discount Bond
A bond that is issued at a price below its face value. For example, a bond with par of $10,000 might be issued to an investor for $7,000. All zero-coupon bonds are original issue discount debt.


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