Bond Québec Province 0% ( CA74815Z2R25 ) in CAD

Issuer	Québec Province
Market price	100 % ⇌
Country	Canada
ISIN code	CA74815Z2R25 ( in CAD )
Interest rate	0%
Maturity	01/12/2056
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Minimal amount	1 CAD
Total amount	/
Cusip	74815Z2R2
Detailed description	Quebec is a predominantly French-speaking province in eastern Canada, known for its unique culture, history, and stunning landscapes, including the Appalachian Mountains and the St. Lawrence River. A distinctive long-dated fixed income instrument issued by the Province of Quebec, identifiable by ISIN CA74815Z2R25 and CUSIP 74815Z2R2, presents a notable profile within the Canadian debt market. The Province of Quebec stands as a significant sub-sovereign entity within Canada, boasting a diversified economy encompassing advanced manufacturing, natural resources, and a robust service sector. As a major Canadian province, its fiscal health and creditworthiness are generally considered strong, reflecting its capacity to issue debt in international and domestic capital markets, with its bonds typically regarded as high-quality investments benefiting from the stable political and economic environment of Canada. This particular obligation is denominated in Canadian Dollars (CAD) and is noteworthy for its zero-coupon structure, indicated by a 0% interest rate, implying that no periodic interest payments are made to bondholders throughout the bond's extensive life. While zero-coupon bonds are commonly purchased at a discount to achieve a yield at maturity, this bond's current market price of 100% suggests it is trading at par, which means its yield to maturity is also effectively 0% under prevailing conditions. The bond features a distant maturity date of December 1, 2056, categorizing it as a very long-term investment instrument, with a minimum purchase size set at 1 unit. The extremely long maturity of this zero-coupon bond, coupled with its current par pricing, makes it a unique offering within the fixed income landscape, as zero-coupon bonds are inherently highly sensitive to interest rate fluctuations, carrying substantial interest rate risk (duration) over such an extended period; for an investor, a 0% yield to maturity signifies that the return on investment comes solely from holding the bond to maturity and receiving the principal amount, implicitly without an explicit interest income component, potentially serving specific portfolio hedging or capital preservation objectives, where the stated payment frequency of '1' ultimately refers to the single principal repayment at the bond's very long-term maturity.