Callable bonds give the firm the option to repurchase the bond from the holder at a stipulated call price.
—可赎回债券赋予公司一项权利，可以从持有者手中以特定的赎回价格回购债券。
Callable bonds can be decomposed into bond and bond's call option, while puttable bonds can be decomposed into bond and bond's put option.
可赎回债券可以分解成普通债券和债券看涨期权的组合，可回售债券可以分解成普通债券和债券看跌期权的组合。
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