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UBS Dictionary of Banking
Ze
ZEBRAS / ZEBRAS / ZEBRAS / ZEBRAS
Abbreviation for Zero Coupon Eurosterling Bearer or Registered Accruing Securities. Stripped UK GBP-denominated government bonds. See also zero bond, coupon stripping.
zero bond / Nullcoupon-Anleihe / obligation à coupon zéro / obbligazione zero coupon
Also: zero-coupon bond. Bond that makes no regular interest payment during its lifetime. Instead it is issued at a discount against full repayment at maturity. Zero bonds have been issued on the US capital market since 1981, but have also established a foothold in other major capital markets as an alternative to interest-bearing bonds.
TopZu
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