风险对应价格，那为啥不是putable最低价格呢？它的风险相比于callable更低呀

问题如下：

Which of the following bonds is most likely to trade at a lower price relative to an otherwise identical option-free bond?

选项：

A.

Convertible bond

B.

Callable bond

C.

Putable bond

解释：

Correct Answer: B

A callable bond benefits the issuer because it gives the issuer the right to redeem all (or part) of the bonds before the maturity date. Thus, the price of a callable bond will typically be lower than the price of an otherwise identical non-callable bond.