Any-Interest-Date Call


DEFINITION of 'Any-Interest-Date Call'

A municipal bond provision which allows the bond issuer to redeem the bond at any date in which interest is set to be paid. An any-interest-date call provision does not necessarily require the bond issuer to pay a premium, but often does require the issuer to wait until the first call date has passed.

BREAKING DOWN 'Any-Interest-Date Call'

Investors in securities with this provision know that a call can occur and are generally notified in advance of when the call is going to come into effect. When the call is enacted, an investor is paid for accrued interest and a stated price. If the issuer is not calling the entire securities issue, the company may call certain random lots of securities.

  1. Call

    1. The period of time between the opening and closing of some ...
  2. Callable Security

    A security with an embedded call provision that allows the issuer ...
  3. Call Provision

    A provision on a bond or other fixed-income instrument that allows ...
  4. Municipal Bond

    A debt security issued by a state, municipality or county to ...
  5. Callable Bond

    A bond that can be redeemed by the issuer prior to its maturity. ...
  6. Maturity

    The period of time for which a financial instrument remains outstanding. ...
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