A type of treasury security that constitutes a long-term debt obligation in the form of a uniform security (fixed income security) issued and backed by a treasury department in a country. Treasury bonds have a a maturity of more than 10 years and up to 30 years, and are sold at a discount or at par (face value).

T-bond is similar to a T-note (10-year note), with a long-term maturity trajectory. These bonds come with original maturities of either 20 or 30 years and typically offer the highest interest rate for holders.

For holders (investors), treasury bonds (T-bonds) are a secure, long-term investment (long-term treasury), offering returns on a relatively long-range commitment of funds (the securitized loan extended by the holders, collectively, to the issuer, i.e., issuing treasury department that acts on behalf of a government at large).

Treasury bond bear higher interest payments than treasury notes (T-notes) and treasury bills (T-bills).

T-bonds make interest payment twice a year. Principal (principal amount) is paid back at the end of maturity.