callable

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Words related to callable

subject to a demand for payment before due date

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References in periodicals archive ?
In addition, it suggests that callability is unlikely to be a key driving force behind secular movements in the Aaa-Treasury spread, because Refcorp bonds are not callable.
Callability allows managers to finance the exercise of growth options with greater timing flexibility.
In particular, we control for bond maturity, coupon rate, callability, sinking fund provisions, subordinate debt, and 144a issues.
Most of the new pricing designs involve a dynamic element of "callability" that is superimposed on top of a time-of-use rate.
Investors may employ hedging strategies and tools to reduce risk, or even "immunize" their investment holdings in stocks, bonds and other debt instruments, commodities, futures, and other investments against almost any conceivable risk, including market risk, sector or industry risk, company or business-specific risk, purchasing power risk, currency risk, interest rate risk, country-specific risk, reinvestment risk, liquidity risk, callability risk, default or credit risk, selection risk, management or agency risk, etc.
Holding period returns and bond values depend on interest rate term structure dynamics, bond coupon rates relative to term structure yields, contractual provisions (such as callability or convertibility), and creditworthiness of issuers.
(11) Throughout the analysis, we assume that the companies do not pay dividends (which is correct in most cases), the warrants are European-style (as in our theoretical analysis above), and there are no special provisions (e.g., callability).
A demand for cash reserves (R) is derived principally from the uncertain callability of the implied contract between deposit holders and banks.
Because the callability of the new agency zeroes negates the usual motive for holding zeroes - to profit from falling interest rates - investors should require a significant yield premium, keeping in mind, however, that interest rates are low now.
There was a fair amount of heterogeneity in terms of maturity, coupons, issue size and callability. One-fourth of these debt issues were not callable.
However, Delta does not take into account convertible bond callability (Lewis et al., 1998; Zabolotnyuk et al., 2010).
(35.) Callable bonds (which are quoted with a range of maturity dates spanning several years) were excluded from the analysis to ensure that the maturities of all bonds are accurately measured and that the price is free from any implicit option premia associated with callability. At the 5-year maturity, there were only two noncallable securities with close to 5 years remaining to maturity, so those two rather than three securities were used to measure yields at that maturity.
The root of the difference between the callability status of the convertible debt in this model and Stein's model is that in the Stein model only equityholders benefit from conversion, through a reduction of financial distress costs upon conversion.