Fixed-rate bond
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In finance, a Fixed-rate bond is a security issued by a government or a business corporation that pays a fixed amount of interest (coupon rate) on the face value (principal/par value) of the bond periodically (often every six months or annually) to the owner until a date certain, called the maturity date, at that time the principal amount (and any outstanding interest) of the bond is paid off to the bond holder and the bond cancelled.