Glossary

Federal loan bonds with fixed coupon rate (OFZ-PD)

are a type of OFZ: registered coupon-bearing medium-term (one to five years) and long-term (five to 30 years) government securities. The bonds give their holders the right to receive their face value at redemption, and the coupon interest. Coupon interest is paid once a year, the rate is fixed for the entire tenor of the bond. Example – Russia, 25065
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