C
Call-Adjusted Yield
C
Call-Adjusted Yield
The non-callable
bond
-equivalent yield on a callable bond. Equal to the basic
yield to maturity
less the expected opportunity loss (due to exercise of the issuer's call privilege). Similar adjustments are made in the calculation of call- adjusted
duration
and call-adjusted
convexity
. See also
Option-Adjusted Spread (OAS)
,
Option-Adjusted Yield
.
Glossary
*
C