The Law Dictionary

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FIRST CALL DATE Definition & Legal Meaning

Definition & Citations:

The first date on which an issuer can call back a CALLABLE BOND outstanding in the marketplace; a typical bond might have several sequential call opportunities appearing after the first date. The time period between the issuance of the security and the first call date is regarded as HARD CALL PROTECTION and protects the investor against REINVESTMENT RISK. See also YIELD TO CALL.


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