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TeachMeFinance.com - explain Optional bond historic definition...
Optional bond -- A bond maturing (expiring) at a specified
date, but which may be redeemed (paid and canceled) after
a designated earlier date at the pleasure (option) of the company
(or government) issuing it. Thus, a bond maturing in
fifty years, but which may be redeemed after ten years, is an
optional bond.
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