A call provision grants the bond issuer the: a. right to automatically extend the bond's maturity date. b. option to exchange the bonds for equity securities. c. right to repurchase the bonds on the open market prior to maturity. e. option of to contact each bondholder to determine if he or she would like to extend the term of his or her bonds.

A call provision in a bond allows the issuer to repurchase the bonds before their maturity date. This means that the issuer has the right to "call" the bonds back, typically at a specified price, which is usually at or near the bond's face value. Given the options provided: - **a. right to automatically extend the bond's maturity date.** (Incorrect) - **b. option to exchange the bonds for equity securities.** (Incorrect) - **c. right to repurchase the bonds on the open market prior to maturity.** (Correct) - **e. option to contact each bondholder to determine if he or she would like to extend the term of his or her bonds.** (Incorrect) Therefore, the correct answer is **c. right to repurchase the bonds on the open market prior to maturity.**