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Investing Glossary:
Callable
Copyright 2012,
Campbell R. Harvey. All Rights Reserved.
Do not reproduce without explicit permission.
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| Definition: |
| Applies mainly to convertible securities. Redeemable by the Issuer before the scheduled maturity under specific conditions and at a stated price, which usually begins at a premium to Par and declines annually. Bonds are usually called when Interest rates fall so significantly that the issuer can save Money by issuing new bonds at lower rates.
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