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Canary Call
       
 
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Canary Call

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Canary Call
A step-up Bond that cannot be called after completing its first-step period.
    
The issuer of the Bond reserves the Option to call back the Bond until the first step is reached. A canary call may only be exercised on predetermined dates.
    
The canary call is similar to a Bermuda Option, as it must be called on specific dates. If the issuer of the Bond chooses not to call before the canary call expires, the Bond Will remain a standard step-up Bond, where the Coupon rate Will increase with each step-up period.
Posted by  Cityscape Abu Dhabi
 
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