Before revision:  In our approach, we adapt the payoff of such a bond in terms of the payoff of an Asian put option and present a new approach to derive model-independent bounds exploiting comonotonic theory as illustrated in prime1 0pt%DIFAUXCMD and \mbox{%DIFAUXCMD Simon }0pt%DIFAUXCMD } for the pricing of Asian options.
After revision:  In our approach, we adapt the payoff of such a bond in terms of the payoff of an Asian put option and present a new approach to derive model-independent bounds exploiting comonotonic theory as illustrated in prime1 , \mbox{%DIFAUXCMD 20pt%DIFAUXCMD and \mbox{%DIFAUXCMD Simon }0pt%DIFAUXCMD } for the pricing of Asian options.