Bonds that are not registered on the books of the issuer. Such bonds are held in physical form by the owner, who receives interest payments by physically detaching coupons from the bond certificate and delivering them to the paying agent. Bloomberg Financial Dictionary
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bearer bond UK US noun [C] BANKING, FINANCE
► a bond that is considered to be owned by the person who has it in their possession, rather than by a named person: »
The former secretary at a brokerage firm stole a customer's bearer bonds from the office and cashed them for her personal use.
Financial and business terms. 2012.