discount bond
noun[C]
FINANCEukus(alsodiscounted bond)abondsoldbeforeitspaymentdateat apricethat islowerthanitsvalue, soinvestorswill get aprofitwhen thebondispaidonitspaymentdate:
Theparanddiscountbondshave alifeof 30yearswith all thecapitalbeingrepaidonmaturity.