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bearer bond
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   Also found in: Financial, Wikipedia 0.01 sec.

bearer bond

Financial instrument that is legally owned by whoever possesses it. This is unusual for financial securities because they normally require registration in the owner's name and registration in the case of transferral. Eurobonds are examples of bearer bonds. As ownership passes with possession, bearer bonds are usually kept in a secure place, such as a bank deposit box.



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Municipal bond and coupon volume has been declining since the passage of the Tax Equity and Fiscal Responsibility Act of 1982, which effectively eliminated the issuance of municipal bearer bonds.
He showed me Japanese bearer bonds said to be worth $500 million or so.
The four-year bearer bonds carry a coupon of 17% and can be redeemed at any time.
 
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