<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0206</schemaVersion>

    <documentType>3/A</documentType>

    <periodOfReport>2002-03-25</periodOfReport>

    <dateOfOriginalSubmission>2004-10-05</dateOfOriginalSubmission>

    <noSecuritiesOwned>0</noSecuritiesOwned>

    <issuer>
        <issuerCik>0001163792</issuerCik>
        <issuerName>WESTERN ASSET PREMIER BOND FUND</issuerName>
        <issuerTradingSymbol>WEA</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001138897</rptOwnerCik>
            <rptOwnerName>WESTERN ASSET MANAGEMENT CO</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>385 E. COLORADO BLVD.</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>PASADENA</rptOwnerCity>
            <rptOwnerState>CA</rptOwnerState>
            <rptOwnerZipCode>91101</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>1</isOther>
            <officerTitle></officerTitle>
            <otherText>Investment Adviser</otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>6981</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <derivativeTable></derivativeTable>

    <footnotes></footnotes>

    <remarks>On March 7, 2002, Western Asset Management Company (&quot;Western Asset&quot;) purchased 6,981 shares of common stock of Western Asset Premier Bond Fund (the &quot;Fund&quot;).  However, on October 5, 2004, Western Asset filed a Form 3, but did not disclose any ownership of the Fund.</remarks>

    <ownerSignature>
        <signatureName>/s/ George P. Hoyt by Power of Attorney for James W. Hirschman III, CEO and President of Western Asset Management Company</signatureName>
        <signatureDate>2014-06-23</signatureDate>
    </ownerSignature>
</ownershipDocument>
