Answer:
can be redeemed by the issuer prior to maturity.
Explanation:
A callable bond can be redeemed by the issuer prior to maturity.
A callable bond is a type of bond that gives the issuer of the bond the privilege of redeeming the bond at any particular point before the bond gets to its date of maturity. It gives the issuing company an ability to pay off debts on time. Such a bond benefits the issuer and such benefits come when the interest rate falls.
