PUTABLE BOND
\pjˈuːtəbə͡l bˈɒnd], \pjˈuːtəbəl bˈɒnd], \p_j_ˈuː_t_ə_b_əl b_ˈɒ_n_d]\
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A bond with put options that allows the investor to sell it back at a predeteremined price. The seller gets a coupon for this. The investor can reinvest in more favorable alternates. This is comperable to a nonputable bond in the short position with the s
By Henry Campbell Black
