1) Due 2) Owed 1) Like some company bonds 2) Owed 3) Subject to payment on demand 
A financial security such as a bond with a call option attached to it, i.e., the issuer has the right to call the security. 
Usually applies to bonds or convertible securities which can be bought back, at an agreed price, before maturity, by the company or government which sold them
A security that is callable gives the holder the right to earlier redemption at a given call... <a target=_blank href='http://www.finance-glossary.com/terms/callable.htm?id=12638&ginPtrCode=00000&PopupMode=false' title='Read full definition of callable'>more</a>
[adj] - subject to a demand for payment before due date
adjective subject to a demand for payment before due date; `callable bonds`