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About Municipal Bonds

Understanding Calls

Many bonds allow the issuer to call—or retire—all or a portion of the bonds at a premium, or at par, before maturity. When buying bonds, be sure to ask your investment advisor about call provisions, and the difference between the yield to call and the yield to maturity.

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All information and opinions contained in this publication were produced by the Securities Industry and Financial Markets Association from our membership and other sources believed by the Association to be accurate and reliable. By providing this general information, the Securities Industry and Financial Markets Association makes neither a recommendation as to the appropriateness of investing in fixed-income securities nor is it providing any specific investment advice for any particular investor. Due to rapidly changing market conditions and the complexity of investment decisions, supplemental information and sources may be required to make informed investment decisions.