Bonds, Interest Rates & Exchange Rates
How do coupon bonds and discount bonds differ?
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A coupon bond carries coupons stating the interest amount and pays interest at set intervals.
A discount bond is issued at a price below face value by the amount of the interest and repays the face value at maturity. Because a discount bond has only one cash flow, at maturity, its price is more sensitive to interest rate changes than that of a coupon bond with the same maturity.
This answer is general financial information as of 2026-10-14, not investment advice. Rules and tax rates change, so please also check the latest guidance from the source institution.
