Usually means: Bond issued without periodic interest.
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We found 9 dictionaries that define the word zero coupon:

General (9 matching dictionaries)
  1. zero coupon: Merriam-Webster
  2. zero-coupon: Oxford Learner's Dictionaries
  3. zero-coupon: American Heritage Dictionary of the English Language
  4. zero-coupon: Wordnik
  5. zero coupon: Wiktionary
  6. zero-coupon: Webster's New World College Dictionary, 4th Ed.
  7. zero-coupon: Infoplease Dictionary
  8. zero-coupon, zero coupon: Dictionary.com
  9. zero-coupon: TheFreeDictionary.com

Definitions from Wiktionary (zero coupon)

noun:  (usually used attributively, finance) A non-existent coupon.
noun:  (finance) A financial security that does not pay interest periodically.

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