Related Words

Housing Bond: Internal rules of broker-dealer firm that govern the handling of its customers' accounts.

PAC Bond: Stands for Planned Amortization Class bond. A tranche class offered by some CMOs that has a sinking fund schedule and an ability to make principal payments that are not subordinated to other classes.

Optional Payment Bond: A bond whose principal and/or interest may be paid in foreign or domestic currency at the discretion of the bondholder.

Obligation Bond: Mortgage bond whose face value exceeds the value of the underlying property, and for which a personal obligation is created to compensate the lender for any costs that may exceed the value o . . . View Full Definition

Par Bond: A bond trading at its face value.

Passive Bond: A bond without any interest yield.

Peptide Bond: A covalent bond that links two amino acids together to form a polypeptide chain. A covalent bond between the amine end of one amino acid and the acid end of another amino acid.

Payment-In-Kind (PIK) Bond: A bond that gives the issuer an option (during an initial period) either to make coupon payments in cash or in the form of additional bonds.

Nine-Bond Rule: An NYSE rule requiring that orders for nine bonds or fewer stay on the floor for one hour to seek a market.

Mutual Self-Help Housing: A program to assist groups of low-income families in building their own homes. Each family is expected to contribute at least 700 hours of labor in building homes for each other. Participati . . . View Full Definition