Which type of bonds features a single maturity date for the entire issue?

Term bonds are designed to feature a single maturity date for the entire issue. This means that all bonds issued under a term bond agreement will mature at the same time, making them distinct from other types of bonds that may have staggered maturity dates. This structure allows issuers to repay the principal amount at once, typically at the end of the bond's term.

The nature of term bonds also implies that interest is paid on the entire principal until maturity, rather than being paid down in increments over time. Investors in term bonds often have a clear expectation of when their investment will be returned, which can influence their investment decisions.

This characteristic of having a single maturity date sets term bonds apart from serial bonds, which include multiple maturity dates for different portions of the issue, and does not apply to convertible or municipal bonds since those terms can vary significantly based on the specific terms of each bond issue.