Noncallable

Business / Finance / Noncallable: A preferred stock or bond that cannot be redeemed whenever desired by the issuer.

Cushion Theory

Business / Finance / Cushion Theory: High-coupon bonds that sell at only at a moderate premium because they are callable at a price below that at which a comparable noncallable bond would sell. Cushion bonds offer considerable downside p MORE

Conditional Sales Contracts

Business / Finance / Conditional Sales Contracts: A protective guarantee that, in the event a hign yield bond is called, the issuing corporation will replace the bond with a noncallable bond of the same life and terms as the bond that is being called MORE

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