non-callable bonds, callable bonds
Explanation:
"A callable bond is a bond which allows the issuer to repurchase the bond for a specified price on certain dates prior to the bond's maturity. Effectively, the issuer of a callable bond retains a call option on the bond. Correspondingly, the holder of a callable bond is short a call option.
In the United States, most corporate and agency bond issues contain call features. Call features are attractive to issuers because they allow them to refinance their indebtedness in the event that interest rates drop. For investors, callable bonds offer higher initial yields than comparable non-callable bonds.
Callable bonds tend to have a shorter duration and lower convexity than do comparable non-callable bonds."
Reference: http://www.riskglossary.com/articles/callable_bond.htm
|   Suzanne Couture
United States
Local time: 21:21
Native speaker of:  English
PRO pts in category: 4
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The translation workplace 
peer agreement (net): +3
