You want to subtract off the value of a perpetuity that starts after 2T, six-month intervals, so this is the present value of the perpetuity that starts after 2T, six-month intervals.

所以就要从永续债券价格里减去,2T期以后,每六月一期券息的贴现值,这部分是永久债券从第2T期后,每半年一期券息的现值

耶鲁公开课 - 金融市场课程节选

If you had a perpetuity, which paid C/2 forever, you already know from the perpetuity formula that the value of that would be C/2 divided by r/2 if r/2 is the discount rate.

如果你有一只永续债券,每半年付息C/2,没有到期日,从永续债券的公式可以知道,债券价格等于C/2除以r/2,r/2为贴现率

耶鲁公开课 - 金融市场课程节选

His report did value the obligations into perpetuity, based on several good arguments that you can read through the hyperlink.

FORBES: Eurozone Debt Crisis Part 4: A Comedy of Policy Missteps; the Drama of Bailouts; the Tragedy of Capital Controls.

In choosing the unfunded Present Value of Pension and Medical obligations, I wanted to avoid some doomsday scenarios that value the obligations into perpetuity.

FORBES: Eurozone Debt Crisis Part 4: A Comedy of Policy Missteps; the Drama of Bailouts; the Tragedy of Capital Controls.