不記名證券
bearer certificate
指持有人便是受益人的不具名證券。以債券來說，通常不記名債券附帶有息券，讓持有人可以撕下以領取利息。
It means the holder is the beneficiary of anonymous securities. In bonds, the bearer bonds usually comes with coupons, so that the holder can be torn off in order to receive interest.