debt securities, such as bonds, medium-term notes and commercial paper, are financial instruments which acknowledge a debt. For more information, see Practice Notes: Key features of the debt capital markets and Types of debt securities.

This Practice Note examines some of the different forms that debt securities can take and explains the meanings of, and differences between:

1. •

   a definitive security and global security, and

2. •

   a global security in bearer form and a global security in registered form

The focus of this Practice Note is on the key features of global debt securities and the global note structures. It should be read in conjunction with Practice Note: Form of debt securities—definitive securities which explains the key features of definitive securities.