Wiktionary
n. (context legal English) A negotiable loan instrument payable to its holder (bearer) by the issuer according to preset conditions. The owner must safeguard bearer bonds to prevent loss; interest is usually paid by coupon redemptions.
WordNet
n. a bond issued with detachable coupons that must be presented to the issuer for interest payments [syn: coupon bond]
Wikipedia
A bearer bond is a bond or debt security issued by a business entity such as a corporation, or a government. As a bearer instrument, it differs from the more common types of investment securities in that it is unregistered – no records are kept of the owner, or the transactions involving ownership. Whoever physically holds the paper on which the bond is issued owns the instrument. This is useful for investors who wish to retain anonymity. Recovery of the value of a bearer bond in the event of its loss, theft, or destruction is usually impossible. Some relief is possible in the case of United States public debt.
Usage examples of "bearer bond".
What's wrong with a bank transfer or a letter of credit or even a bearer bond?
Had to be because whatever else Hoffer had paid him, there was the bearer bond for fifty thousand dollars in that bank vault in Palermo and as today was Sunday he couldn't possibly have col-lected it on his return.
Had to be because whatever else Hoffer had paid him, there was the bearer bond for fifty thousand dollars in that bank vault in Palermo and as today was Sunday he couldn't possibly have collected it on his return.