Make-Whole Call
A redemption provision where the call price is determined using the present value of remaining cash flows discounted at a specified reference yield plus spread, subject to documentation.
Market use
It differs economically from a fixed-price par call.
What it means
A redemption provision where the call price is determined using the present value of remaining cash flows discounted at a specified reference yield plus spread, subject to documentation.
Example
The exact reference security, spread and floor terms control the calculation.
How to interpret it
This concept should be read together with its market convention, measurement horizon and underlying instrument. BondStats presents it as an analytical reference rather than investment advice; instrument documentation and primary market rules remain authoritative.
Related Conventions
BondStats reference content is independently written. Mathematical relationships, abbreviations and market conventions are presented for educational and analytical use.