Bond

In finance, a bond is a debt security, in which the certified issuer owes the holders a debt and is obliged to repay the principal and interest (the coupon) at a later date, termed maturity. Other conditions may also be attached to the bond issue, such as the obligation for the issuer to provide certain information to the bond holder, or limits on the behavior of the issuer. Bonds are usually issued for a fixed term more than ten years, U.S. Treasury securities issue debt with life of ten years or more, which is a bond, and New debt between one year and ten years is a "note", and new debt less than a year is a "bill".