Bonds that sell for much less than face value and pay no coupon are called:

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All the terms mentioned refer to bonds that are sold for significantly less than their face value and do not pay periodic interest or coupon payments. These bonds are essentially bought at a discount and upon maturity, the bondholder receives the face value of the bond. The difference between the purchase price and the face value represents the investor's return.

Bonds That Sell for Much Less Than Face Value and Pay