First Call Date

The first date on which we can redeem a callable bond, even if it hasn’t reached its maturity date.

When we buy bonds, we do so knowing that they will mature on a certain date in the future. But sometimes, if we sense a changing in economic tides, we can cash in that bond before it’s mature. (This isn’t always an option; check yo’ bonds to be sure.)

Whatever is going on in our bond world, “first call” refers to the first actual date on which we can call in that bond.