Hard Call Protection
The period in the life of a callable bond in which the issuing company is not permitted to redeem the bond.
Investopedia Commentary
This feature is important for investors purchasing redeemable or callable bonds. Hard call protection acts as sweetener for the bond itself and disallows the issuer from calling the bond under any circumstances.
Related Links
Bond Basics Tutorial
Advanced Bond Concepts
See also: Bond, Callable Bond, Convertible Bond, Soft Call Protection, Sweetener