A call schedule is the table in the terms of a callable bond that sets out when the issuer may redeem the bond before maturity and at what price. Each line gives a date, or the start of a period, and the bond call price that applies, expressed as a percentage of face value. A typical schedule begins after a period of call protection, starts at a premium above par and steps down to par in later years. It also records the type of call and the notice the issuer must give.
Data vendors and custodians store the schedule as part of instrument reference data. It is used to calculate yield to call and yield to worst, to value the embedded call option on a bond and to anticipate redemptions. Its counterparts are the put schedule for investor options and the redemption schedule for planned repayments.