The maturity date is the date on which the issuer of the bond is obligated to repay the principal amount to the bondholder. Days to maturity is a measure of the remaining time until the bond reaches its full face value and the investor receives the final payment.

As the bond approaches its maturity date, the days to maturity decrease, and the bond's price tends to converge toward its face value. Investors may consider the days to maturity when making investment decisions, as it can impact the bond's price sensitivity to changes in interest rates and overall investment strategy.