Akademik

A bond that is selling for more than its par value. Bloomberg Financial Dictionary

Premium Bond ˈPremium ˌBond noun [countable usually plural] FINANCE

a numbered document that you buy from the government in Britain, which gives you the chance to win money each month and for which you can get back the money you bought it for

Premium Bond UK US noun [C] (UK FINANCE

► a type of bond that you can buy as part of a UK government system in which you have the chance to win money each month for as long as you do not sell the bond: »

Only if a premium bond is cashed in will it be removed from the draw.