I need someone who knows about bonds. Zero bonds to be more exact
 

A friend told me about long term zero bonds that pay a very high interest rate but you are totally fucked if you need the money sooner than you expected. I can't find much info on google. I think I have the terms slightly fucked up. Anyone know what I'm talking about?

Basically they are bonds where you buy them cheaper than their market value, but then you can't sell them for X number of years.
Example: You buy a bond with a market value of 500$ for 250$ and then wait 15 years and sell it for 500$. If you need to sell it before the 15 years you take a huge hit.

You can always ssell them, like most do, on the secondary bond markets when ever you want....

Yea thats what he was talking about. He said he bought them for 10 cents on the dollar for 10 years... It seemed too good to be true. You think 50 cents on the dollar is more accurate for a 10 year bond?

thanks for the help