Call protection limits the issuer’s ability to redeem a bond before maturity, giving investors greater income certainty. This video explains how call protection works, when it applies, and why it’s especially important in a falling interest rate environment.

You’ll learn:

• What call protection is and how it benefits bondholders

• How call protection periods are structured in callable bonds

• Why issuers might want to call a bond early—and why investors want protection

• The connection between interest rates, reinvestment risk, and call risk

• How to identify call protection scenarios in exam questions

📘 Related Exams: SIE, Series 7, Series 65, Series 66
🧠 Skill Level: Beginner
📈 Topics Covered: Bond features, call risk, interest rate impact, investor protection, callable securities