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Long-Term Debt

A company's debt obligations that mature (fall due) after one year or more (or beyond one business cycle at least)....

Liquidity Black Hole

A market situation that is marked with falling asset prices that impact the supply of credit by financial intermediaries, leading...

Liquidity Spiral

A market situation that is marked with falling asset prices that impact the supply of credit by financial intermediaries, leading...

Legal Risk

A set of risks that negatively impacts an entity's management or transactions for reasons relating to legal capacity and regulatory...

Leg

Figuratively, a leg is one part or one side of a transaction/ trade/ instrument, spread, etc., that has multiple steps...

Laddering

An investment technique whereby investors (or portfolio managers) purchase multiple financial instruments/ products with different maturity dates ordered in a...

Leveraged Inverse Floating Rate Note

An inverse floating rate note whose coupon moves inversely with respect to interest rates by more than one for one....

Lock-Up Reverse Convertible

A reverse convertible that is subject to a knock-out barrier and involves the sale (writing) of a knock-out put by...

Liquidation Value

The cash or cash-equivalent proceeds that can be realized by hurriedly liquidating an investment, like an asset or a host...

Liquid Yield Option Note

A form of zero-coupon convertible bond (convertible zero-coupon bond) that was introduced by Merrill Lynch in 1985. This note was...