Business and Personal Finance Dictionary

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• CLEAN PRICE
  
  Definition: The quoted bond price without the accrued interest. (Cf. dirty price.) Application: In the U.S. bond market, if you ask your broker a bond's price, he quotes the clean price. However, your check for that amount would be insufficient to buy the bond, because you must also pay the amount of the accrued interest since the previous coupon date.
  
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