medium · Debt Capital Markets bond-instruments-structures

If a bond has a 'Par Call' feature starting 6 months before maturity, what does this mean?

1. The investor can demand repayment of par value up to six months early.
2. The issuer may only call the bond when its quoted market price is exactly equal to 100.00.
3. The issuer can redeem the bond at 100% of face value during that final window.
4. The coupon payments are entirely cancelled over the final six months of the term.

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