I was about to say that they look like HST's but the "100% weight retention and impressive expansion" advertising point doesn't match up because that is typical nomenclature for a bonded bullet.
Let me put on my conspiracy theorist hat for a minute:
When was the last time you saw Federal Tactical Bonded ammo?
This stuff:
https://www.targetsportsusa.com/fed...ctical-bonded-hollow-point-le9t1-p-58575.aspx
It does not have the name recognition of HST's or Gold Dot's. It is the red headed stepchild of Federal's LE line. In fact, it
was since it's not on Federal's LE specific site anymore.
This makes me wonder if the Punch bullets are the Tactical bonded bullet, but with the skived window dressing of the HST via a forming die.
The marketing specifically aims at civilians via 20rd boxes.
The marketing says, "Federal designed this 9mm Luger to meet or surpass FBI ammunition testing procedures putting it through intense testing including 10% ordinance gelatin, steel, wallboard, plywood, laminated automobile safety glass and gelatin covered in heavy clothing." Federal wouldn't go to that expense to sell Joe Average a box of 20.
But as I read more, I don't think it is the Tactical bonded.
It's not advertised as a bonded bullet, but a jacketed hollow point.
https://www.thefirearmblog.com/blog...mium-punch-defensive-handgun-ammunition-line/
The high res image is a very plain looking expansion that doesn't appear bonded and you can plainly see a cannelure. It does not appear to be bonded since the tops of the petal don't have lead on them, the cannelure for mechanical fastening is a feature (not required for bonded bullets in autoloaders), and the low price point.
This makes me wonder if it is simply an HST jacket with a different lead core composition, since they advertise that it's softer and they say CCW holders don't typically need to shoot through barriers.
https://www.outdoorhub.com/news/2020/02/09/shot-show-2020-federal-punch/
It could be that Federal just made the lead core softer so that doesn't tear into a pretty petals like the HST, but just piles up, expands more, and could be offered at a lower price point.
The marketing compares it against Hornady Critical Defense and Sig V-crown, ammo typically for the CCW market and not the LE market.
Notice that they don't give any gel test data, but just that it meets the FBI requirements. Since the expansion is more, I bet the penetration is lower and it meets it but isn't that impressive.
I bet it's a good value.