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Lottery Bond

Lottery Bond Definition

Lottery Bond is a type of government bond with a rate of return dependent upon a lottery style payout. The issuer redeems a certain number of randomly selected bonds at a premium to their face value. Each bond is similar to a lottery ticket with an equal opportunity to win in monthly draws for cash prizes.


Additional meaning of Lottery Bond:

A lottery bond usually carries a low coupon rate, but the premiums for the winning bonds are higher than coupon payments on regular payout bonds.


RELATED TERMS
Coupon Rate
Face value
RELATED CATEGORIES
Bonds







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