Answer: call provision.

The correct answer is **B** because the call provision is a valuable option for the issuer. As a result, investors require a higher yield (and thus pay a lower price) for a callable bond compared to an otherwise similar non-callable bond. - **Option A (put provision)**: Incorrect because a put provision benefits the bondholder, making putable bonds offer a lower yield (and higher price) than non-putable bonds. - **Option C (conversion provision)**: Incorrect because a convertible bond favors the bondholder, leading to a lower yield and higher price than non-convertible bonds. This aligns with the learning objective of understanding cash flow contingency provisions in fixed-income instruments.

Author: LeetQuiz Editorial Team