Maturity
The date on which the issuer must repay the bond's principal.
Money-market instruments mature within one year; the note-versus-bond label is a loose market convention (US Treasury notes run 2–10 years, Treasury bonds 20–30 years). Perpetual bonds (consols) have no maturity at all. Term to maturity declines mechanically over a bond’s life — a 10-year bond becomes a 9-year bond a year after issuance.