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Early Redemption (Put) Option
An embedded feature of some bonds with both fixed and floating rates that permits the holder to sell the bonds back to the issuer or to a third party at par or close to par in the event interest rates rise and/or the quality of the issuer's credit declines. Bonds with these options are usually called Put Bonds, Puttable Notes, or Puttable Bonds.
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Glossary *
E
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