Its price will then be based not on its call but rather its final maturity date.

These are usually the first bonds called from the proceeds of mortgage payments and as a result have a shorter average life than the final maturity date.

In many cases, the intention of the borrower is to refinance the amount of the balloon payment at the final maturity date.

Features include current interest rate, next accrual date, final maturity date, year-to-date interest earned, and more.

The Chemical Financial Acceptance Corporation is offering $119.7 million in asset-backed securities with a final maturity date of April 15, 1994, through underwriters led by Chemical Securities Inc.

An amortizing loan should be contrasted with a bullet loan, where a large portion of the loan will be paid at the final maturity date instead of being paid down gradually over the loan's life.

The securities, which are being sold through MBNA Credit-Card Trust 1990-A, have a final maturity date of Sept. 15, 1994, are backed by the underlying Visa and Mastercard loans and supported by a 10 percent letter of credit from the Industrial Bank of Japan.