The convertibility, however, may be forced if the convertible is a callable bond, and the issuer calls the bond.

Most callable bonds allow the issuer to repay the bond at par.

# Option pricing models are used for certain types of financial assets ( e. g., warrants, put options, call options, employee stock options, investments with embedded options such as a callable bond ) and are a complex present value model.

* Yield to call: when a bond is callable ( can be repurchased by the issuer before the maturity ), the market looks also to the Yield to call, which is the same calculation of the YTM, but assumes that the bond will be called, so the cashflow is shortened.

* Yield to worst: when a bond is callable, puttable, exchangeable, or has other features, the yield to worst is the lowest yield of yield to maturity, yield to call, yield to put, and others.

Suppose a fixed-coupon callable bond was brought to the market by a company.

Since it is callable however, the issuer may redeem the bond back from investors at certain dates during the life of the bond.

Therefore, the issuer also enters into Bermudan swaption when the bond is brought to market with exercise dates equal to callable dates for the bond.

With a callable bond, investors have the benefit of a higher coupon than they would have had with a straight, non-callable bond.

The price behaviour of a callable bond is the opposite of that of puttable bond.

Price of callable bond

* Price of a callable bond is always lower than the price of a straight bond because the call option adds value to an issuer ;

There are also two libraries, which are a protected mode DOS extender ( based on Thomas Pytel's, AKA Tran's PMODE30B + PMODE307 DOS extenders ), and a library of functions callable by C programs.

Preferred stock may also be callable, meaning that the company has the option to purchase the shares from shareholders at anytime for any reason ( usually for a premium ).

FTN Financial is involved in fixed-income sales and distribution, is also an underwriter of callable agency debt, and a top performer in the overall agency market with maturities of 18 months and longer.

*** An American callable can be called at any time until the maturity date.

The new President is in no position to start out his dealings with Moscow by issuing callable bluffs.

This is a special case of a Bermudan callable.

A generic function is an object which is callable like a function and which associates a collection of methods with a shared name and argument structure, each specialized for different arguments.

In C ++ it is possible to make an object ' callable ' by overloading the operator, but it is still often necessary to implement a new class, such as the < em > Functors in the STL </ em >.

In this case, the firm's gain is the bondholder's loss – thus callable bonds will typically be issued at a higher coupon rate, reflecting the value of the option.

It is a set of routines written in ANSI C and organized in the form of a callable library.

The largest market for callable bonds is that of issues from government sponsored entities.

* Yield on a callable bond is higher than the yield on a straight bond.

* What is a callable bond ??

The name kina is derived from Kuanua of the Tolai region, referring to a callable pearl shell used widely for trading in both the Coastal and

Also, par value still matters for a callable common stock: the call price is usually either par value or a small fixed percentage over par value.

# The firm may repurchase a fraction of outstanding bonds at a special call price associated with the sinking fund provision ( they are callable bonds ).

However, if the bonds are callable, this comes at a cost to creditors, because the organization has an option on the bonds:

By issuing a large number of callable bonds, they have a natural hedge, as they can then call their own issues and refinance at a lower rate.

" Casino rules vary on this ; some of these bets may not be callable, while others may be considered " working " during the come-out.

The drawback for users was that direct access to some features of their machines was not available, but this could be remedied with callable functions and subroutines specially written in assembly language.

* Picogrib GRIB 1 C-language ( FORTRAN callable ) free decoding package compatible to some extent with ECMWF GRIBEX routine

*** A European callable has only one call date.

Most of these bonds are callable, but the first call date is never less than five years from the date of issue — a call protection period.

For this reason many Lower Tier 2 instruments were issued as 10yr non-call 5 year issues ( i. e. final maturity after 10yrs but callable after 5yrs ).

Note, however, that many municipal bonds are callable, and that this imposes substantial additional risks to the strategy.

The BIOS provides a small library of basic input / output functions used to operate and control the peripherals ( such as the keyboard, text display functions and so forth ), and these software library functions are callable by external software.

These bonds are referred to as callable bonds.

** call dates and put dates — the dates on which callable and putable bonds can be redeemed early.

*** A Bermudan callable has several call dates, usually coinciding with coupon dates.

* Operational applications have callable BI components, with improvements in response time, scaling, and concurrency.

In the early months of the American Civil War, Cooke collaborated with the secretary of the treasury Salmon P. Chase in securing loans from the leading bankers in the Northern cities ; his own firm was so successful in distributing treasury notes that Chase engaged him as special agent for the sale of the $ 500, 000, 000 of so-called " five-twenty " bonds — which were callable in 5 years and matured in 20 years — authorized by Congress on February 25, 1862.

In Hong Kong Stock Exchange, warrants accounted for 11. 7 % of the turnover in the first quarter of 2009, just second to the callable bull / bear contract.