Debt security is a financial instrument representing a legally binding loan agreement between a creditor and a debtor, where a creditor is a buyer or an investor and a debtor is an issuer. In return for the loan, the buyer will receive interest or discount from the par value on a specified rate and time.

In general, the main features of debt securities include issuer name, par value, maturity date, coupon rate, coupon payment date, type of debt security, and covenants.