Split-Coupon Bond: (1) Purchases or sales shared with others. (2) Division of the outstanding shares of a corporation into a large number of shares. Ordinarily, splits must be proposed by directors and approved by shareholders.

 

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Split-Coupon Bond: (1) Purchases or sales shared with others. (2) Division of the outstanding shares of a corporation into a large number of shares. Ordinarily, splits must be proposed by directors and approve . . . View Full Definition

Passive Bond: A bond without any interest yield.

Par Bond: A bond trading at its face value.

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.

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.

Perpetual Bond: Nonredeemable bond with no maturity date that pays regular interest rates indefinitely.

Performance Bond: A surety bond between two parties, insuring one party against loss if the terms of a contract are not fulfilled.

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.

Pi Bond: In the valence bond theory, a pi bond is a valence bond formed by side-by-side overlap of p orbitals on two bonded atoms. In most multiple bonds, the first bond is a sigma bond and all of th . . . View Full Definition

Municipal Revenue Bond: A bond issued to finance a public project that is funded by receipts from the project's operation.