Any-Interest-Date Call

AAA

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.

INVESTOPEDIA EXPLAINS '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.

RELATED TERMS
  1. Call

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

    A bond that can be redeemed by the issuer prior to its maturity. ...
  3. Municipal Bond

    A debt security issued by a state, municipality or county to ...
  4. Call Provision

    A provision on a bond or other fixed-income instrument that allows ...
  5. Callable Security

    A security with an embedded call provision that allows the issuer ...
  6. Treasury Direct

    The online market where investors can purchase federal government ...
Related Articles
  1. When Your Bond Comes Calling
    Bonds & Fixed Income

    When Your Bond Comes Calling

  2. The Advantages Of Bonds
    Investing

    The Advantages Of Bonds

  3. Find The Right Bond At The Right Time
    Bonds & Fixed Income

    Find The Right Bond At The Right Time

  4. Get Active In Your Bond Portfolio
    Options & Futures

    Get Active In Your Bond Portfolio

comments powered by Disqus
Hot Definitions
  1. Ghosting

    An illegal practice whereby two or more market makers collectively attempt to influence and change the price of a stock. ...
  2. Elasticity

    A measure of a variable's sensitivity to a change in another variable. In economics, elasticity refers the degree to which ...
  3. Tangible Common Equity - TCE

    A measure of a company's capital, which is used to evaluate a financial institution's ability to deal with potential losses. ...
  4. Yield To Maturity (YTM)

    The rate of return anticipated on a bond if held until the maturity date. YTM is considered a long-term bond yield expressed ...
  5. Net Present Value Of Growth Opportunities - NPVGO

    A calculation of the net present value of all future cash flows involved with an additional acquisition, or potential acquisition. ...
  6. Gresham's Law

    A monetary principle stating that "bad money drives out good." In currency valuation, Gresham's Law states that if a new ...
Trading Center