a bond without a guaranteed amount of interest payment, such payment being usually made only out of earnings.
Origin of income bond
First recorded in 1885–90
Dictionary.com Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2019
British Dictionary definitions for income bond
a bond that pays interest at a rate in direct proportion to the issuer's earnings
Collins English Dictionary - Complete & Unabridged 2012 Digital Edition © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012