Many bonds have different call prices: a higher price for calling the bonds to meet sinking-fund requirements and a lower price if the bonds are called for any other reason.

Question

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Typically, bonds have a single call price specified in the bond covenant, regardless of the reason for calling the bond, whether it's for sinking fund requirements or other reasons. The call price may vary over time but not typically based on the reason for the call.

Many Bonds Have Different Call Prices: a Higher Price for Calling