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0] has been only defined in the domestic economy, there is no reason for the foreign zero-coupon bond price, discounted by the foreign spot rate, to be a martingale under [Q.
The borrower also buys a 30-year zero-coupon bond that will mature with a face value of $100,000 - the amount of the interest-only mortgage - and places this zero in trust in favor of the lender.
We will illustrate this development by considering, in some detail, three of its primary manifestations: zero-coupon bonds, collateralized mortgage obligations, and the use of specialized securities in combination with swaps to exploit market niches around the world.
If a zero-coupon bond is called before maturity--which is more likely to occur when interest rates have fallen--the investor will generally not be able to reinvest the proceeds at the yield to maturity he enjoyed on the zero-coupon bond.
Example: Investor buys a $1,000 20-year, zero-coupon bond for $500, when the revised issue price is $560, with 10 complete years remaining to maturity.
For a true "fire-and-forget" investment, zero in on zero-coupon bonds.
ANKARA, Apr 12, 2010 (TUR) -- Turkish Treasury auctioned 14-month zero-coupon bond, and three-year maturity fixed-coupon bond on Monday.
The Treasury also is considering other options for these bonds: One would be a zero-coupon bond, in which a person gets all his money back at the end of the bond's life along with an inflation premium.
According to Minister of Finance Hany Khadry Dimian, the balances of the second type of bond, the zero-coupon bond, is up to about EGP 61.
According to the Ministry of Finance, the balances of the second type of bond, the zero-coupon bond, is up to about EGP 61.
Friday also marks the launch of the American Century Target 2030 Fund, the sixth in a series of zero-coupon bond funds with targeted maturities occurring every five years from 2005 to 2030.