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 Z

ZERO COUPON BOND
Bond issued at a discount which accrues interest that is paid in full at maturity.

Past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted.

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spacer Logo TIAA-CREF Brokerage Services, a division of TIAA-CREF Individual & Institutional Services, LLC, member FINRA and SIPC.
Investment products are not FDIC insured, not bank guaranteed, and may lose value.
©2007 and prior years, Teachers Insurance and Annuity Association - College Retirement Equities Fund, New York, NY 10017.