Browse Investing

Put, Retractable, and Extendible Bonds

Putable, retractable, extendible, and adjustable putable bond terms.

Put, retractable, and extendible bonds include features that can shorten, extend, or otherwise change repayment timing after issuance.

Use this branch when holder rights, issuer rights, or extension mechanics affect expected maturity, reinvestment risk, credit exposure, duration, or liquidity.

Key Terms in This Branch

TermWhat it clarifies
Putable BondA bond the holder may be able to sell back under stated conditions.
Put FeatureContract language that creates a holder put right.
Extendible Bond IssueA bond issue whose maturity or terms may extend under stated conditions.
Adjustable Long-Term Putable SecurityA putable structure with adjustable long-term features.

Common Mistakes

  • Assuming the stated maturity is the expected maturity.
  • Ignoring notice requirements, exercise windows, and put price.
  • Treating put protection as equivalent to credit protection.
  • Comparing extendible structures without modeling the extension scenario.

In this section

Choose a subsection first. Deeper term pages live inside each subsection, which keeps large topic hubs readable.

Extendible Bond Issue

An extendible bond issue allows maturity extension under specified terms, changing duration, reinvestment risk, and issuer funding flexibility.

Put Feature

A put feature gives bondholders the right to sell a bond back to the issuer before maturity at a stated price or date.

Putable Bond

A putable bond is a type of bond that allows the holder to sell it back to the issuer at a predefined price before maturity, offering flexibility and risk management.

Revised on Sunday, June 21, 2026