Stub period

In finance, in particular with reference to bonds and swaps, a stub period is a length of time over which interest accrues are not equal to the usual interval between bond coupons.^[1]

These periods normally occur because the interval between coupons does not fit neatly into the period for which the bond was issued, thus sometimes a bond's final or first coupon period may be adjusted to make the bond start and mature on the desired dates.