Discount

英文名称：Discount 中文名称：贴水／贴现／折扣
一般是指某物的价格水平低于其价值。在外汇市场里，贴水是指远期汇率低于即期汇率；在货币市场里，金融票据到期前不付息，因此其价格低于面值；在期货市场，贴水指期货的价格低于现货。参见溢价／升水（Premium）。 eb1619e81e59668d2db8098284f6daa5 
e.g. McCann said that the fact that Origin's shares were trading at a deep discount compared with a recent independent experts' valuation means that the company is less susceptible to fresh takeover bids.

The condition of the price of a bond that is lower than par. The discount equals the difference between the price paid for a security and the security's par value. 

For example, if a bond with a par value of $1,000 is currently selling for $990 dollars, it is selling at a discount.