Putable

Putable

A feature of bonds which grants the investor the right to sell the bond back to the issuer at par value on designated dates. This feature is advantageous to investors when interest rates rise causing the value of the bond to decrease. The put provision would allow the bondholder to force the issuer to redeem the bond at par.

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Part of Speech: noun
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Industry/Domain: Financial services
Category: Funds
Company: Merrill Lynch
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