A callable bond that is structured in a way that the issuer can recall it at any time over its life, not just on scheduled dates (discrete dates). However, this bond is still associated with a call schedule where the call dates only tell bondholders at what price the bond will be called if it is called prior to the next date in the schedule. At all times, the issuer must serve advance notification to bondholders specifying the eminent call date.
March 17, 2025
