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   Puttable Extendible Notes
   















 

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Puttable Extendible Notes

At the end of each interest period, the issuer may redeem these notes at par or attempt to extend the maturity on terms that he believes the note holder will accept. The note holder can put the notes back to the issuer if the new rate is unacceptable. Holders also may have one or more additional put options during the initial interest period. See also Lender's Option-Borrower's Option (LOBO).

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