Call Me, Maybe?

What is a Callable Bond?
A bond whose indenture is a specified number of shares of equity that each bond can be “transformed” into at a time of the bondholders’ choosing.
A bond that simply pays a coupon payment indefinitely (or the company goes into default) and doesn’t ever pay back a principle amount.
A bond who has a price (or prices) built into the bond indenture that specify the issuer can buy back the bond on a certain date (or dates) usually for a premium to the face value of the bond.
A bond whose owner has the right to force the issuer to buy back the security from them (usually at face value) prior to the maturity date.
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