Zero-coupon bond

Zero-coupon bond

Zero-coupon bond

A bond in which no periodic coupon is paid over the life of the contract. Instead, both the principal and the interest are paid at the maturity date.

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Zero-beta portfolio

Zero-beta portfolio

Zero-beta portfolio

A portfolio constructed to represent the risk-free asset, that is, having a beta of zero.

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Zero coupon bond

Zero coupon bond

Zero coupon bond

Such a debt security pays an investor no interest. It is sold at a discount to its face price and matures in one year or longer.

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Z score

Z score

Z score

Statistical measure that quantifies the distance (measured in standard deviations) a data point is from the mean of a data set. Separately, z score is the output from a credit-strength test that gauges the likelihood of bankruptcy.

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Z bond

Z bond

Z bond

Also known as an accrual bond or accretion bond; a bond on which interest accretes interest but is not paid currently to the i nvestor but rather is accrued, with accrual added to the principal balance of the Z and becoming payable upon satisfaction of all prior bond classes.

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