Death Put

Death Put

A provision in some indentures giving the survivors of a bondholder the right, but not the obligation, to sell a bond back to its issuer at the bondholder's death or legal incapacitation. The bond is sold at is face value and the proceeds are deposited into the estate of the bondholder. If interest rates are declining, the survivors may be able to make a great deal of profit.
References in classic literature ?
This was sixty long miles from the place where they had abandoned him; and it appeared that the wretched man had crawled that immense distance before death put an end to his miseries.
The result was that he came straight away in a state bordering on frenzy, and has remained in the same state, kneeling at the end of her bed, until this morning death put an end to her sufferings.
The Manchester student's death put canal safety under the spotlight and triggered a petition for barriers to be placed along the city's waterways.
The 19-year-old's death put canal safety under the spotlight and triggered a petition for barriers to be placed along the city's waterways.
A killer son who beat his mother to death put her on her bed, wrapped towels round her injured face and pulled the sheets up after his frenzied attack.
Energy BBDO's Prescribed to Death put a face to America's opioid epidemic via pills etched with the visages of those who overdosed.
The former Rangers and England captain insists Christopher's death put everything in perspective.
The violent, vicious demonic force that has taken over Hannah's body isn't content to let a thing like her death put an end to its reign of terror, and once her cadaver arrives in the morgue, the evil spirit senses a perfect opportunity to wage continued destruction, claiming a mounting roster of new victims as it pursues its real quarry, Megan, played by recent Manila visitor Shay Mitchell of "You"-fame.
Since the assassination of Taseer, there have not been any more such high-profile killings by believers of this school of thought whether this is because the former governor's death put an abrupt end to the debate he provoked or for other reasons is unclear.
MAC Miller's death put a huge strain on his ex Ariana Grande's new relationship, it has emerged.
"His evolved and spiritual appreciation of the two most profound realities of life and death put him at peace with himself.
The fund's strategy entailed using these accounts to buy discounted corporate bonds which had a survivor option, or "death put." The death put let the manager, as the joint account's survivor, redeem the investments from issuers for the full principal amount before maturity upon the death of a joint tenant.