[{"data":1,"prerenderedAt":175},["ShallowReactive",2],{"term:coupon":3},{"term":4,"related":166},{"id":5,"title":6,"body":7,"category":149,"description":150,"extension":151,"faq":152,"meta":153,"navigation":154,"path":155,"related":156,"seo":159,"stem":160,"takeaways":161,"__hash__":165},"terms\u002Fterms\u002Fcoupon.md","Coupon",{"type":8,"value":9,"toc":143},"minimark",[10,15,19,22,26],[11,12,14],"h2",{"id":13},"understanding-coupon","Understanding Coupon",[16,17,18],"p",{},"A bond's coupon rate is fixed when the bond is issued. Payments are usually made twice a year.",[16,20,21],{},"The coupon does not change when the bond's market price changes, which is why yield and coupon differ.",[11,23,25],{"id":24},"formula","Formula",[27,28,31],"span",{"className":29},[30],"katex-display",[27,32,35,72],{"className":33},[34],"katex",[27,36,39],{"className":37},[38],"katex-mathml",[40,41,44],"math",{"xmlns":42,"display":43},"http:\u002F\u002Fwww.w3.org\u002F1998\u002FMath\u002FMathML","block",[45,46,47,67],"semantics",{},[48,49,50,54,58,61,64],"mrow",{},[51,52,53],"mtext",{},"Annual coupon",[55,56,57],"mo",{},"=",[51,59,60],{},"Coupon rate",[55,62,63],{},"×",[51,65,66],{},"Face value",[68,69,71],"annotation",{"encoding":70},"application\u002Fx-tex","\\text{Annual coupon} = \\text{Coupon rate} \\times \\text{Face value}",[27,73,77,106,130],{"className":74,"ariaHidden":76},[75],"katex-html","true",[27,78,81,86,94,99,103],{"className":79},[80],"base",[27,82],{"className":83,"style":85},[84],"strut","height:0.8889em;vertical-align:-0.1944em;",[27,87,91],{"className":88},[89,90],"mord","text",[27,92,53],{"className":93},[89],[27,95],{"className":96,"style":98},[97],"mspace","margin-right:0.2778em;",[27,100,57],{"className":101},[102],"mrel",[27,104],{"className":105,"style":98},[97],[27,107,109,113,119,123,127],{"className":108},[80],[27,110],{"className":111,"style":112},[84],"height:0.8778em;vertical-align:-0.1944em;",[27,114,116],{"className":115},[89,90],[27,117,60],{"className":118},[89],[27,120],{"className":121,"style":122},[97],"margin-right:0.2222em;",[27,124,63],{"className":125},[126],"mbin",[27,128],{"className":129,"style":122},[97],[27,131,133,137],{"className":132},[80],[27,134],{"className":135,"style":136},[84],"height:0.6944em;",[27,138,140],{"className":139},[89,90],[27,141,66],{"className":142},[89],{"title":144,"searchDepth":145,"depth":145,"links":146},"",2,[147,148],{"id":13,"depth":145,"text":14},{"id":24,"depth":145,"text":25},"investing","The annual interest a bond pays, stated as a percentage of its face value.","md",[],{},true,"\u002Fterms\u002Fcoupon",[157,158],"bond","yield",{"title":6,"description":150},"terms\u002Fcoupon",[162,163,164],"The coupon is a bond's stated interest rate.","It is paid on face value, not on market price.","Zero-coupon bonds pay no coupon and are sold at a discount.","r_gsR4xw5oPvmwbmAooub-wY9SzwzO5HiOcffnzITFM",[167,171],{"title":168,"description":169,"path":170},"Bond","A loan an investor makes to a government or company in exchange for interest payments.","\u002Fterms\u002Fbond",{"title":172,"description":173,"path":174},"Yield","The income an investment produces, as a percentage of its price.","\u002Fterms\u002Fyield",1793226379165]