A metallic microparticle impacting a metallic substrate with sufficiently high velocity will adhere, assisted by the emergence of jetting—the splash-like extrusion of solid matter at the periphery of the impact. In this work, we compare real-time observations of high-velocity single-microparticle impacts to an elastic–plastic model to develop a more thorough understanding of the transition between the regimes of rebound and bonding. We first extract an effective dynamic yield strength for copper from prior experiments impacting alumina spheres onto copper substrates. We then use this dynamic yield strength to analyze impacts of copper particles on copper substrates. We find that up to moderate impact velocities, impacts and rebound velocities follow a power-law behavior well-predicted on the basis of elastic-perfectly plastic analysis and can be captured well with a single value for the dynamic strength that subsumes many details not explicitly modeled (rate and hardening effects and adiabatic heating). However, the rebound behavior diverges from the power-law at higher impact velocities approaching bonding, where jetting sets on. This divergence is associated with additional lost kinetic energy, which goes into the ejection of the material associated with jetting and into breaking incipient bonds between the particle and substrate. These results further support and develop the idea that jetting facilitates bonding where a critical amount of bond formation is required to effect permanent particle deposition and prevent the particle from rebounding.