公司债券与股票不同，它是按固定利息率借给公司的贷款。

Debentures, unlike shares, are loans to a company with a fixed rate of interest.

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他们马上就观察到债券的回报(利息)是固定的，而股票投资的回报(盈利)会每年变化极大。

They will immediately observe that the return on a bond (the coupon) is fixed, while the return on an equity investment (the company's earnings) can vary substantially from one year to another.

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标明在债券，中期债券或其他固定收入证券上的利率。以本金(或面值)的百分比表示。也叫息票利率。是指以债券的年利息除以债券面值所得的比率。

The interest rate stated on a bond, note or other fixed ine security, expressed as a percentage of the principal (face value). Also called coupon rate.

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