Bond. Fixed-income instrument in which the issuer owes the holders a debt and, depending on the terms of the bond, is obliged to pay interest (the coupon) and/or to repay the principal at maturity
A Bond is debt issued for a period of more than one year. A bond investor is effectively lending money. The vendor of the bond agrees to repay the principal amount of the loan at a specified time. Interest-bearing bonds pay interest periodically.
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