Put Bond  

A bond that gives the holder the right to require the issuer or the issuer?s agent to purchase the bonds at a price, usually at par, at some date or dates prior to the final stated maturity.

Remarks: Bond funds including mutual funds (open-end and closed-end, actively managed and indexed), exchange-traded funds and unit investment trusts offer a convenient and affordable way to invest in a diversified portfolio of bonds, but a bond fund investment can differ from a bond investment in ways that are important to understand.