It is calculated by dividing the annual coupon payment by the par value of the bond.

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Yet, they know this is just a Band-Aid with another crisis likely coming at the next coupon payment date.

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In other words, if an issuer does not have the cash for the next coupon payment, bondholders will receive more debt.

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Under current government policies and economic projections, they should be far more concerned about a return of their principal in 10 years than about any short-term delay in a coupon payment in August.

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As the real owner need declare himself only when the coupon is paid, foreign investors sell their bonds and buy others just before the coupon-payment date.

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Mr Correa is likely to pursue a policy of renegotiation rather than non-payment, in an attempt to reduce the 12% coupon paid on its Global 2012 bonds.

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In addition, there has been a dramatic decline in the number of "coupon settlements, " where plaintiffs are individually awarded payment coupons by the defendant.

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The rumored incentives include preferential status for agreeable parties, higher coupon payments should they agree to roll bonds over and the payment of collateral as a token of good faith.

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Visa is using payment information to identify shoppers in a particular mall by their payments on the card and them pushing them a coupon worth 20 percent off at the Gap store in that mall.

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