# Zero Coupon Bond Forward Price

I'm currently working on the Coursera Financial Engineering and Risk Management course. In one of the questions I was asked to build a binomial pricing model for fixed-income securities. Specifically a 10-period model with 5% initial short rate, u=1.1, d=0.9, q=1-q=0.5.

One of the questions asked for the bond forward price with maturity at t=4. And the forward price I got was exactly the same as the bond price. Is that correct for zero coupon bonds?

$$G_0 = \frac{E_0^\mathbb{Q}[Z^j_t/B_t]}{E_0^\mathbb{Q}[1/B_t]}$$
Where $G_0$ denotes the price of the forward at $t=0$, $E_0^\mathbb{Q}$ is the risk-neutral price at $t=0$, $Z^j_t$ denotes the ex-coupon price of the bond at time $t$ and state $j$, and $B_t$ is the value of the cash account at time $t$.