Bond

A security representing a debt issued by a government, a public or private sector institution or a supranational organisation.
Different types of bond exist, differentiated by the method of calculation of interest : fixed-rate bonds, adjustable rate bonds, discount bonds, variable rate bonds, convertible bonds, OATs (Obligations Assimilables du Trésor – French treasury bonds), ORAs (Obligations Remboursables en Actions – bonds redeemable in shares), OBSAs (Obligations à Bons de Souscription d’Action – bonds with equity warrants). Specialists in these types of security are known as actuaries.