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the interest rate a bond's issuer promises to pay to the bondholder until maturity, or other redemption event, generally expressed as an annual percentage of the bond's face value; for example, a bond with a 10 % coupon will pay $ 100 per $ 1000 of the bond's face value per year, subject to credit risk; when searching Fidelity's secondary market fixed income offerings, customers can enter a minimum coupon, maximum coupon, or enter both to
specify a range and refine their search; when viewing Fidelity's fixed - income search results pages, the term «Step - Up»
instead of a numeric coupon rate means the coupon will step up, or increase over time at pre-determined rates and
dates in the future; clicking Step - Up will reveal the step - up schedule for that security