Glossary of Municipal Securities Terms


The price, as established in the bond contract, at which securities will be redeemed, if called. The call price is generally at or above par (or the compound accreted value in the case of zero coupon and some deeply-discounted original issue discount securities) and is stated as a percentage of the principal amount called. See: PREMIUM CALL PRICE; REDEMPTION PREMIUM; REDEMPTION PROVISIONS.

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