A bond interest payment for more or less than six-months' interest. The first coupon on many bonds is irregular because payment is other than six months from the dated date. Also called odd coupon.
Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.