When a bond is callable,the ability to call the bond is an option for ________.

Name: When a bond is callable,the ability to call the bond is an option for ________.
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When a bond is callable, the right to call the bond (i.e. redeem it before its maturity date) is held by the bond issuer, not the bond purchaser or the trustee holding the bond. It is essentially an option for the issuer to pay off the bond early, which can be beneficial to them if interest rates have decreased since the bond was issued.

When a Bond Is Callable,the Ability to Call the Bond