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A government bond with no maturity . Popular in Great Britain. The formula for valuing these bonds is simple. The consol payment divided by yield to maturity is the price of the bond.

Perpetual Bond

A bond in which the issuer does not repay the principal. Rather, a perpetual bond pays the bondholder a fixed coupon as long as he/she holds it. Prices for perpetual bonds vary widely according to long-term interest rates. When interest rates rise, perpetual bonds fall and vice versa. Perpetual bonds are most common in the United Kingdom, where they were used originally to pay for the military.


A debt instrument having no scheduled return of principal and therefore perpetual interest payments and no maturity. Consols fluctuate widely in price with changes in long-term interest rates. They have never been popular in the United States. Also called annuity bond, perpetual bond. See also perpetuity.


a FINANCIAL SECURITY issued by the government as a means of raising money. Consols are issued at a fixed price and bear a nominal fixed INTEREST RATE. Unlike other securities issued by the government such as TREASURY BILLS and BONDS, consols are irredeemable, i.e. they do not carry a specified redemption date. However, consols can be bought and sold on the STOCK MARKET at variable prices reflecting the forces of supply and demand for them.
References in periodicals archive ?
It is noteworthy that 75 percent of those interviewed rely on discounted cash flow as the primary tool of analysis, according to Sonne, who noted the anecdotal survey responses indicate this is due to revenue enhancement or management models, or the ability to raise rents on existing tenants at any time.
Sonne, who obviously intends to get laid this evening, escorts her.
They charged Sonne and Peterson after searching two cottage homes in rural Ontario.
erinnere, sonne du, die fischigen leiber entlang sudlicher Ieinen, als
Etimologia: dedicado al RV Sonne, a bordo del cual se realizo la Expedicion PUK-156 frente a la costa de Chile.
Several of our former students have served on national committees, and one went on to the state legislature," says Sonne.
Although studies had suggested that some of these agents might affect animals' reproduction, "this is the first time it has ever been shown outside the laboratory," says Christian Sonne of Denmark's National Environmental Research Institute in Roskilde, who led the new study.
After a disastrous trip, he tells the king he had spent his "poore estate, lost my sonne and suffered a world of miseries.
Now, Christian Sonne of the Danish National Environmental Research Institute and colleagues have found a similar association in a new species [EHP 112:1711-1716].
Curiously enough, to the Germans the sun is a benevolent lady with a permanently sunny smile: Frau Sonne, But in Latin (sot) as well as in Latin countries, the sun is invariably masculine: el sol (Spanish), il sole (Italian), le soleil (French).
A plethora of pyrotechnics exploded throughout the show as the band belted out their biggest hits, including Sonne, Mutter and their latest release Ich Will, set to storm the charts.
This book accounts for one of the intractable features of Dante's style, his seemingly gratuitous astronomical imagery -- a mannerism parodied by Chaucer: "th'orisonte hath reft the sonne his lyght, -- This is as muche to seye, as it was nyght" (Franklin's Tale, 1017-18).