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Clear filtersFixed Income
Embedded Options
A call gives the issuer the right to repay early; a put gives the holder the right to demand repayment. Each is an option, and someone pays for it.
Advanced4 min read
Fixed Income
Defaults and Recovery
A default is a failure to meet the terms of the indenture, which is not always a failure to pay. What holders recover depends on their position in the capital structure.
Advanced3 min read