Black's Law Dictionary (Second Edition).djvu
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COUPON Definition & Legal Meaning

The periodic CASH FLOW payable by an issuer or borrower to an investor or lender for the use of DEBTbased CAPITAL. Coupon payments may be based on fixed or floating INTEREST RATES, and may be payable on a weekly, monthly, quarterly, semiannual or annual basis, or accrued until final maturity of the LIABILITY. See also CORPUS, PRINCIPAL. STRIPPING See STRIPPING.

or
a statement of due interest to be cut from a debt instrument and especially a bearer bond when payable and presented for payment.

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