<p> Straight Bond is a bond which will pay back the principal on its maturity date, will pay a specified amount of interest on specific dates, and does not carry a provision or other special features. </p><p>中文的名称是"单纯债券"或者"纯粹债券",也就是不包括各种条件和条款的,如callability, convertibility etc. 后面两句话是解释callable bond可以分解为一个straight bond和一个call option的组合。注意前者是callable bond holder,后者是callable bond writer。</p>
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