Definitions
from The American Heritage® Dictionary of the English Language, 5th Edition.
- adjective Of or relating to a security that cannot be redeemed by the issuer before a certain date.
from Wiktionary, Creative Commons Attribution/Share-Alike License.
- adjective finance Not
callable .
Etymologies
from Wiktionary, Creative Commons Attribution/Share-Alike License
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Examples
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Morgan Chase & Co. The notes will be noncallable for three years and carry ratings of B3 from Moody's Investors Service and B- from Standard & Poor's.
Del Monte Sells $1.3 Billion in Notes Michael Aneiro 2011
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Terms were as follows: Maturity: Oct. 15, 2020; coupon: 6.625%; price: par; yield: 6.625%; spread: 416 basis points more than Treasurys; settlement: Oct. 8, 2010 (T+3); call: noncallable until Oct. 15, 2014; ratings: Ba1 (Moody's Investors Service), single-B-plus (Standard & Poor's Ratings Services).
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That might strike you as tantamount to financial and moral failure, but seen another way the late payers are taking advantage of the fact that mortgages are noncallable and also usually nonrecourse.
Learning to Love Your Home Loan Stephane Fitch 2011
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The notes are noncallable before three years and are being sold via the private Rule 144a market.
Flood of High Yield Continues to Flow Anusha Shrivastava 2011
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Terms: Maturity: Oct. 30, 2018; coupon: 9.5%; price: par; yield: 9.5%; spread: 751 basis points more than Treasurys; settlement: Oct. 19, 2010; call: noncallable for four years; ratings: B3 (Moody's), triple-C-plus (S & P).
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Common terms: Amount: $1.5 billion; maturity: April 15, 2019; price: par; settlement: Oct. 15, 2019 (T+6); call: noncallable for 4 years.
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Common terms: Price: par; settlement: Jan. 21, 2011 T+5; call: noncallable for 3 years.
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Terms: Maturity: Nov. 1, 2016; coupon: 10.0%; price: 98.897; yield: 10.25%; spread: 874 basis points more than Treasurys; settlement: Oct. 28, 2010; call: noncallable; expected ratings: Caa1 (Moody's), triple-C-plus (S & P).
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The notes, which are also noncallable, were rated B3 by Moody's and are expected to be rated B-plus by Standard & Poor's.
CIT Prices First High-Yield Bond Since Its Bankruptcy Katy Burne 2011
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Treasuries are generally noncallable, so when rates go down you get to hang on to them.
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