non-callable bond - Investment & Finance Definition
A bond that can’t be called, or repaid, by the issuer before its maturity. The U.S. Treasury is the most common issuer of non-callable bonds. Corporate bonds usually have some type of call option, except during periods of low interest rates when there is little incentive for a company to issue new bonds with call protection. See also callable bond.Webster's New World Finance and Investment Dictionary Copyright © 2010 by Wiley Publishing, Inc., Indianapolis, Indiana.
Used by arrangement with John Wiley & Sons, Inc.