The ________ feature permits the issuer to repurchase bonds at a stated price prior to maturity.

Name: The ________ feature permits the issuer to repurchase bonds at a stated price prior to maturity.
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The call feature allows the issuer to buy back or "call" the bonds from bondholders before their maturity date at a specified price. This gives the issuer flexibility if interest rates decline or if the issuer's financial situation improves, allowing them to refinance the debt at a cheaper cost.

The ________ Feature Permits the Issuer to Repurchase Bonds at a Stated