ThirdAge Investment Glossary |
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Callable
(1) Payable on demand, such as money borrowed against your margin account. (2) Redeemable by the issuer, such as preferred stock or bonds. The issuer of preferred stock has the option of retiring the stock by paying the holder a predetermined price as stated on the stock certificate; the issuer of callable bonds reserves the right to redeem the bonds before their maturity date.
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