Unamortized Bond Discount: A liability insurance policy that provides protection against damages not covered by standard liability policies, such as large jury awards in lawsuits.

 

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Unamortized Bond Discount: A liability insurance policy that provides protection against damages not covered by standard liability policies, such as large jury awards in lawsuits.

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

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.

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

Original Issue Discount Debt (OID Debt): Debt that is initially offered at a price below par.

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.

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

Original Issue Discount: A bond or other debt security that is issued at less than par but can be redeemed for full par value at maturity is an original issue discount security. The appeal, from an investor's perspe . . . View Full Definition

Municipal Bonds: Bonds issued to finance public improvements such as parks, schools and urban renewal projects.

Multiple Bond: Sharing of more than one electron pair between bonded atoms. A double bond consists of two shared pairs of electrons; a triple bond consists of three shared pairs.