Definitions (4)

1. The amount by which a bond's par exceeds its market price.
2. The amount by which the Net Asset Value per share of a closed-end fund's holdings exceeds its market price.
3. Anything selling below its normal price. opposite of premium.
4. In the case of a convertible security, the difference between the gross proceeds received on sale and the convertible's price. This difference occurs whenever the market expects that the convertible security will be redeemed before the next coupon date, and so investors will receive accrued interest.

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allow for volume discount