息票率 Coupon Rate是指债券的年利率，相当于债券面值的某个百分比。
以外汇基金债券为例，按息票率计算的利息每半年派付一次。
The coupon rate is paid semi - annually for exchange fund notes . exchange fund notes fixings.
浮动利率证券的存续期很短，只等于到下一个息票率调整日的间隔。
The duration of a floater is quite short, equal to the time until the next coupon reset date.
这就好比息票率12%的债券，如果你以远远超过账面价值的价格购买，是无法获得12%的回报的。
You can't pay far above par for a 12 percent bond and earn 12 percent for yourself.
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