A relatively unusual bond that allows the holder to force the issuer to repurchase the security at specified dates before maturity. The repurchase price, usually at par value, is set at the time of issue. A put bond allows the investor to redeem a long-term bond before maturity, but the yield generally equals the one on short-term rather than long-term securities. Also called option tender bond. See also mandatory tender bond, poison-put bond, yield to put.