Bond A debt secured by a specific asset of the issuing corporation.  The term bond, debenture and note are often used interchangeably.  All three represent debt obligations of the issuing entity.  The majority of these instruments are issued in multiples of  $1,000 face amounts at a specified coupon, or interest rate, with a set maturity date at which time the obligation must be repaid.  Many debt issues may be redeemed, or called, by the issuer prior to the maturity date if specified in the issue’s indenture.