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Coupon: Difference between revisions
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{{a|glossary|[[File:Transylvanian_Bond.jpeg|center|400px|thumb|A Transylvanian [[bond]] spotted in Sighișoara yesterday]]}}[[Interest]]. Derives from the traditional means of paying interest on a [[definitive]], security-printed [[bearer bond]], wherein each interest payment was represented by a detachable perforated strip on the side of the [[bond]] - you know, like coupons in the newspaper - which the [[bondholder]] would tear off and present to the [[paying agent]] in return for the interest payment in question. | {{a|glossary|[[File:Transylvanian_Bond.jpeg|center|400px|thumb|A Transylvanian [[bond]] spotted in a cool but ironic restaurant in Sighișoara yesterday]]}}[[Interest]]. Derives from the traditional means of paying interest on a [[definitive]], security-printed [[bearer bond]], wherein each interest payment was represented by a detachable perforated strip on the side of the [[bond]] - you know, like coupons in the newspaper - which the [[bondholder]] would tear off and present to the [[paying agent]] in return for the interest payment in question. | ||
Hence the fabled journey each year of the [[Belgian dentist]] in which he would set out in his Citroën 2CV with only his favourite pork-pie hat, a brown suit and a battered suitcase full of carefully clipped coupons, cross the border, present his coupons to the Luxembourg [[paying agent]] and promptly depart on a two-week bacchanalian bender in the Balearic before returning to his maxillofacial practice in Brussels' red-light district on the first day of September. | Hence the fabled journey each year of the [[Belgian dentist]] in which he would set out in his Citroën 2CV with only his favourite pork-pie hat, a brown suit and a battered suitcase full of carefully clipped coupons, cross the border, present his coupons to the Luxembourg [[paying agent]] and promptly depart on a two-week bacchanalian bender in the Balearic before returning to his maxillofacial practice in Brussels' red-light district on the first day of September. | ||
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===The good old days=== | ===The good old days=== | ||
Of course, there aren't any security-printed bonds any more - everything is in dematerialised, book-entry form - so these days a "[[coupon]]" can refer to any [[interest]]-like payment, under loans, swaps etc, or specifically to the interest payment obligation under a bond as a discrete [[financial instrument]] from its host [[bond]]. | Of course, there aren't any security-printed bonds any more - everything is in dematerialised, book-entry form - so these days a "[[coupon]]" can refer to any [[interest]]-like payment, under loans, swaps etc, or specifically to the interest payment obligation under a bond as a discrete [[financial instrument]] from its host [[bond]]. | ||
These days, the only place you're likely to encounter a real coupon is framed and on the wall of an ironic but cool restaurant in Transylvania. | |||
{{Sa}} | {{Sa}} | ||
[[Belgian dentist]] | [[Belgian dentist]] | ||