Not able to be redeemed prior to maturity. A non-callable security is usually more expensive than a callable security, due to the added risk the holder of a callable security is subject to.

Use non-callable in a sentence

You should try and make sure that you will have enough funds to get by while waiting for a non-callable to come in.

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The non-callable had a maturity that was far enough away that the financial adviser recommended liquidating the securities owned if possible.

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Harry was glad that his sister convinced him to make his security a non-callable one, despite the extra cost he felt it would be safer for the whole family in the long run.

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conditional call option positive convexity