Definition for : Puttable

"Puttable" describes a characteristic of a financial instrument (such as a Bond) which allows its holder (the investor) to be reimbursed early before the Final maturity, on a specified date or during a specified period of time, and at a specified Redemption price. The opposite of puttable is Callable.
(See Chapter 25 Selling securities of the Vernimmen)
To know more about it, look at what we have already written on this subject