Bonds and warrants are not the same thing. Bonds are fixed-income investments that guarantee investors the return of their principal along with a set interest rate by a certain period of time. Warrants, on the other hand, are derivatives that give the holder the right but not the obligation to purchase or sell the underlying security at a certain price by the expiration date. Warrants can be attached to bonds. Bond-linked warrants give perks to both investors and bond issuers.