A special type of index-linked issue in which the creditor lends money to the debtor in return for an obligation to return tangible assets of a fixed quantity and quality at maturity. The interest rate is also agreed in the corresponding tangible asset. In Germany, such securities were introduced during the inflationary period starting in 1923 (coal bonds, potash bonds, grain bonds). – See bond, commodity-related, rye bond, salt bills.
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