George Cahill, a portfolio manager, has identified three five-year annual coupon bonds issued by a sovereign government. The three bonds have identical characteristics. The exceptions are that Bond A is an option-free bond; Bond B is callable at par two years and three years from today; and Bond C is also callable at par two years and three years from today as well as putable at par one year from today.

Given an anticipation of rising interest rates, Bond C will be expected to:

A. Be called by the issuer.

B. Be put by the bondholders.

C. Mature without exercise of any of the embedded options.