FIXED-RATE BOND
\fˈɪkstɹˈe͡ɪt bˈɒnd], \fˈɪkstɹˈeɪt bˈɒnd], \f_ˈɪ_k_s_t_ɹ_ˈeɪ_t b_ˈɒ_n_d]\
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A DEBT obligation, such as a domestic BOND, EUROBOND, or GLOBAL BOND, which pays a fixed COUPON on a monthly, quarterly, semiannual, or annual basis. Fixedrate bonds, which carry maturities ranging from one to 30 years, can be issued directly or from MEDIUMTERM NOTE or EURO MEDIUMTERM NOTE programs, and may be sold as publiclyplaced REGISTERED SECURITIES, BEARER SECURITIES, or PRIVATE PLACEMENTS. See also FLOATING RATE NOTE.
By Henry Campbell Black
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