A bond maturing all at once on a single date with no early repayment.
A bullet bond is a bond that matures on a single date, with the full principal repaid all at once on that maturity date (no gradual repayment). This contrasts with amortizing bonds that pay principal gradually over time. Bullet bonds are straightforward: predictable timing and amount of principal repayment. Most government and corporate bonds are bullet bonds. Investors know exactly when they'll receive their principal back, making it easier to plan reinvestment.