Caution: Not All Peace Bonds Are the Same.
Peace Bonds are issued in different circumstances and often are subject to different conditions. What ultimately matters is whether there was an "arrest," whether there is a criminal case pending, or a criminal case disposition relevant to the prohibitions.
Another key question is whether the applicant truthfully responded in item 16 (application version 10-2017), which is about circumstances which might constitute a prohibition. Some of the situations in which a peace bond is issued DO require disclosure in item 16 EVEN IF it does not constitute a prohibition. (If the situation resulting in the peace bond occurred after the application was submitted, an applicant is required to give IRCC notice of the situation if it falls into any of the described situations in item 16.)
There is NO ONE ANSWER regarding a "peace bond" applicable to all applicants with a peace bond. In particular, the impact (or lack of impact) of a peace bond for one applicant does not reveal what the impact of the peace bond for another applicant will be. It depends.
Overall:
Many times a Peace Bond has NO impact on citizenship application (even if it triggers a Finger Print request) BUT there are some circumstances in which a Peace Bond is related to a proceeding which at least requires the applicant to disclose it to IRCC at the time of the application or while the application is in process, and some which arise from a situation which does constitute a prohibition.
