#fixed #income
The coupon rate or nominal rate of a bond is the interest rate that the issuer agrees to pay each year until the maturity date. The annual amount of interest payments made is called the coupon.
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2.1.4. Coupon Rate and Frequency
The coupon rate or nominal rate of a bond is the interest rate that the issuer agrees to pay each year until the maturity date. The annual amount of interest payments made is called the coupon. A bond’s coupon is determined by multiplying its coupon rate by its par value. For example, a bond with a coupon rate of 6% and a par value of $1,000 will pay annual interest of$60 (6%