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Accrued interest
The portion of the coupon that has built up since the last payment.
How to read the number
The buyer pays accrued interest to the seller on top of the price, so the real outlay exceeds the quoted figure.
When the metric lies
A bond quote excludes accrued interest, so the clean price in the order book is always below what is actually debited from the account.
Also known as: accrued interest, aci, dirty price