What Is Maturity?

Maturity is the date when an investment becomes due for repayment or eligible for redemption under its terms. For a Pendle principal token, it marks when the principal redemption becomes available. It does not guarantee payment in dollars or mean that a vault holding the token must return investors’ money that day.

A vault can sell before maturity at the available market price, or replace a maturing investment with one due later, a process called rolling over. Its own withdrawal rules and available liquidity determine when depositors can receive money. See Pendle’s maturity and redemption explanation.