A Callable Bond

question 37

Multiple Choice

A callable bond:

• A)is generally call protected during the entire term of the bond issue.
• B)generally will have a call protection period during the final three years prior to maturity.
• C)may be structured to pay bondholders the current value of the bond on the date of call.
• D)is prohibited from having a sinking fund also.
• E)is frequently called at a price that is less than par value.

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