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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 ?
Sonne and his pals are well drunk and a little thuggish, for one thing, while Victoria is a foreigner who looks (and behaves) like a trusting 15 year old -- actually Costa looks a bit like Sugarcubes-era Bj?
Sonne added, "I am also particularly grateful to Dean Elizabeth Magill, Larry Marshall, former Dean Larry Kramer, and the Becket Fund for their steadfast support of the clinic project and its launch.
said Sonne told a meeting of activists and professors in May that he planned to monitor police chatter about the G-20 summit and post it on Twitter.
erinnere, sonne du, die fischigen leiber entlang sudlicher Ieinen, als
Several of our former students have served on national committees, and one went on to the state legislature," says Sonne.
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).
The novel connects thematically with her earlier academic work on Turkish literature and her first novel, Das Verschwinden des Schattens in der Sonne (1973), the tale of a young Austrian doctoral candidate researching in Turkey.
The exhibition Sonne, Mond und Sterne, portraying the natural, cultural and mythological aspects of coal and natural energy, opens 13 May in the old coking plant in Zollverein Essen.
com) may be interested in reading an article in the September 8th issue of The Wall Street Journal by Paul Sonne titled "To Wash Hands of Palm Oil Unilever Embraces Algae.