registered coupon bond

registered coupon bond
n. A long-term, interest-bearing instrument, in the form of a certificate, issued to the public by a corporate or governmental entity as a way to borrow money and registered on the books of the issuer. The obligor promises to repay the money on or before a specific date and makes regular interest payments until then. The owner of the bond is not a stockholder and has no ownership interest in the entity, but is only a creditor and the debt is often secured by a lien on the entity's property. Interest is paid by redeeming a coupon.
See also bond, debenture.
+ registered bond. A bond that is not payable to an individual only because he or she has possession of the certificate evidencing the bond's existence, but instead is payable only to whomever the issuer's records indicate is the owner of the bond.
=>> bond.

Webster's New World Law Dictionary. . 2000.

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