A ________ bond is a bond where the bondholder has the right to cash in the bond before maturity at a specific price after a specific date.

Question

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A puttable bond is a bond that gives the bondholder the right to sell the bond back to the issuer before maturity at a specific price after a specific date. This is also known as a "put option." Callable bonds give the issuer the right to buy back the bond before maturity, while coupon bonds pay periodic interest payments. Treasury bonds are issued by the US government.

A ________ Bond Is a Bond Where the Bondholder Has