What is a characteristic of redeemable bonds?

Redeemable bonds are characterized by their ability to be redeemed at the option of the issuer. This means that the issuer has the right to buy back the bonds from the bondholders before the maturity date, typically under certain conditions outlined in the bond's terms. This feature can offer advantages for the issuer, such as the ability to refinance the debt if interest rates decline or the issuer’s financial situation improves.

The other characteristics mentioned in the choices do not accurately describe redeemable bonds. For instance, redeemable bonds can be sold on the secondary market; therefore, they are not restricted from being sold back to the issuer. Additionally, redeemable bonds may have varying issuance schedules, and they are not limited to being issued only once, allowing issuers to take advantage of market conditions over time. Regarding interest rates, redeemable bonds often have slightly higher rates than non-redeemable ones to compensate investors for the redemption risk, although this can vary based on different market conditions.