A coupon or coupon payment is the annual interest rate paid on a bond, expressed as a percentage of the face value (face value is always $1,000), and is paid from the issue date until maturity. Coupons are usually referred to in terms of the coupon rate (the sum of coupons paid in a year divided by the face value of the bond in question).
For example, if the coupon rate is 5%, then you would receive $50 in annual interest for a $1,000 par bond assuming the bond was held for a year.
Keep in mind, that coupon rates do not change and are fixed rates throughout the entirety of the bond.
Coupons are typically paid semi-annually and you can see the payment date while in-app or on the web by:
To find in the App:
Open Public App
Tap on the bond of interest
Scroll down to the ‘About’ section
View coupon frequency and next coupon payment date
To find on the Web:
Login
Click on the bond of interest
Scroll down to ‘Bond Details’
View coupon frequency and next coupon payment date
For further questions please contact the Member Support team via in-app chat or email at support@public.com.