Average Life
Number of years to the point at which half of the principal of the bond will have been retired, which in turn gives an indication as to how fast the principal is expected to amortize.
bond-basics
Put Bond
A Bond that gives the bondholder the right to sell, or put, the Bond to the Issuer or some other party, often a remarketing agent, under specific conditions. Put Bonds are ordinarily put to the Issuer or remarketing agent at 100% of the Par Value of the Bonds.
