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Registered Bond
Source: Encyclopedia of Banking & Finance (9h Edition) by Charles J Woelfel
(We recommend this as work of authority.)

Classified as to form, bonds may be registered or coupon bonds.  Registered bonds may be subdivided into those which are "registered both as to principal and interest" and those which are "registered as to principal only."

The name of the owner of a registered bond is written on its face, and it cannot be negotiated except by endorsement and transfer on the books of the issuing organization.  In other words, registered bonds are transferred in the same manner as stock certificates.  The bonds contain a form of assignment and transfer on the reverse side.  Registration is a privilege offered optionally in the sale of certain issues of coupon bonds to appeal to those investors who may wish issues of coupon bonds to appeal to those investors who may wish to avail themselves of the opportunity to protect the equitable owner, in case of theft.

The registration of bonds necessarily entails the maintenance of complete records by the issuing organization.  Usually, therefore, a bank or trust company is appointed to act as registrar.  The registrar maintains the necessary records, which show the owner's name and address, when sales occur, and the name of the transferor and transferee.  In this way, the ownership of each bond can be traced.

When bonds are registered as to principal only, coupons are attached, but such coupons are negotiable by delivery just like those detached from coupon bonds.  The principal, however, can only be negotiated by endorsement and transfer of title to the buyer on the book of the registrar.  These are known as registered coupon bonds.

When bonds are registered both as to principal and interest, no coupons are attached.  Checks for the interest are remitted to the registered holder at each coupon date and a check for the principal at maturity.

The market price of registered bonds is usually somewhat less than that of coupon bonds of the same issue because of the inconvenience incident to transfer.  

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