PREMIUM BOND Definition

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PREMIUM BOND is a bond selling above its par value or its value at maturity.

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CALL OPTION is the right to buy a security within a fixed period of time at a fixed price.

HIGH-YIELD DEBT is a business term referring to a corporate debt instrument (non-investment grade or junk bond), that has a higher yield (compared to investment grade debt) because of a high perceived credit risk (default risk). See also JUNK BOND.

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