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zero coupon

 - 1 dictionary result

ze⋅ro-cou⋅pon

[zeer-oh-koo-pon, -kyoo-]
–adjective
of or pertaining to a debt obligation that bears no interest but that is sold substantially below its face value.

Origin:
1975–80
Dictionary.com Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2009.
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