单词 | noncallable |
释义 | noncallablenon·call·a·bleN0134700 (nŏn-kô′lə-bəl)noncallable(ˌnɒnˈkɔːləbəl)NoncallableNoncallableNoncallablenoncallable (NC)Noncallable.When a bond is noncallable, the issuer cannot redeem it before the stated maturity date. Some bonds have call protection for their full term, and others for a fixed period -- often ten years. The appeal of a noncallable bond is that the issuer will pay interest at the stated coupon rate for the bond's full term. In contrast, if a bond is called, you receive a lump-sum repayment of principal, which you must reinvest. Frequently, rates are lower at call that they were when the bond was issued, which means your reinvested principal will provide a smaller yield. |
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