Coupon Value - The annual rate of interest of a bond.
Cover - (1) To take out a forward foreign exchange contract.
(2) To close out a short position by buying currency or securities which have been sold.
Because all of these instruments trade the in the open market, the value to an investor depends on the rate of return (the net of the coupon value in relation to the price paid) and the amount of time left on the instrument's term.
If you understand why a bond's market value is almost never at par value, then you'll also understand why the bond's coupon value is almost never the same as the current bond yield or yield to maturity.
If the interest rate exceeds the coupon value of the bond, than the latter will be sold at a discount. When the coupon rate surpasses the interest rate, the bond will be sold at a premium. In contrast, the actual and the face value match at maturity.
 See also: Interest, Market, Interest Rate, Investment, Coupon
  
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