Definitions
American Heritage® Dictionary of the English Language, Fourth Edition
- adj. Of or relating to a provision of some bond and preferred stock issues that prohibits the issuer from redeeming the security before a certain date or until maturity.
Wiktionary
- adj. finance Not callable.
Etymologies
- non- + callable (Wiktionary)
Examples
“Common terms: Price: par; settlement: Jan. 21, 2011 T+5; call: noncallable for 3 years.”
“That might strike you as tantamount to financial and moral failure, but seen another way the late payers are taking advantage of the fact that mortgages are noncallable and also usually nonrecourse.”
“Terms: Maturity: Nov. 1, 2016; coupon: 10.0%; price: 98.897; yield: 10.25%; spread: 874 basis points more than Treasurys; settlement: Oct. 28, 2010; call: noncallable; expected ratings: Caa1 (Moody's), triple-C-plus (S & P).”
“Common terms: Amount: $1.5 billion; maturity: April 15, 2019; price: par; settlement: Oct. 15, 2019 (T+6); call: noncallable for 4 years.”
“Terms were as follows: Maturity: Oct. 15, 2020; coupon: 6.625%; price: par; yield: 6.625%; spread: 416 basis points more than Treasurys; settlement: Oct. 8, 2010 (T+3); call: noncallable until Oct. 15, 2014; ratings: Ba1 (Moody's Investors Service), single-B-plus (Standard & Poor's Ratings Services).”
“Terms: Maturity: Oct. 30, 2018; coupon: 9.5%; price: par; yield: 9.5%; spread: 751 basis points more than Treasurys; settlement: Oct. 19, 2010; call: noncallable for four years; ratings: B3 (Moody's), triple-C-plus (S & P).”
“The notes, which are also noncallable, were rated B3 by Moody's and are expected to be rated B-plus by Standard & Poor's.”
The Wall Street Journal: CIT Prices First High-Yield Bond Since Its Bankruptcy
“The notes are noncallable before three years and are being sold via the private Rule 144a market.”
The Wall Street Journal: Flood of High Yield Continues to Flow
“Morgan Chase & Co. The notes will be noncallable for three years and carry ratings of B3 from Moody's Investors Service and B- from Standard & Poor's.”
The Wall Street Journal: Del Monte Sells $1.3 Billion in Notes
“Treasuries are generally noncallable, so when rates go down you get to hang on to them.”
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