Most U.S. bonds pay interest on a semi-annual basis. For example, the Treasury 8 1/8% due 5/15/2021 will pay coupons of 4.0625% of face value on 5/15 and 11/15 of each year until maturity. Most non-US domestic bond issues pay annual coupons. Other exceptions are bonds that pay coupons monthly, quarterly or at maturity. In addition to bonds, many money market instruments pay coupons. But unlike bonds, they typically pay a single coupon on the maturity date. Short dated Certificates of Deposit [CD's] are an example of these one-coupon securities.