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 14.10.2026, not investment advice. Rules and tax rates change, so please also check the latest guidance from the source institution.
