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TAC

It stands for targeted amortization class; a type of bond class that has a schedule for repayment of principal which...

Targeted Amortization Class

A type of bond class that has a schedule for repayment of principal which is protected against contraction risk for...

PAC Bond

Planned amortization class bond; a tranche of a collateralized mortgage obligation (CMO) that converts a long-term mortgage product with irregular...

Bond Value

The value of the “straight” fixed income element of the convertible alone, without consideration to the value of the convertible’s...

NSJ Bond

It stands for non-sticky jump bond; a collateralized mortgage obligation that may change priority to receive principal if certain conditions...

Structured Note

A highly rated fixed-income security that contains embedded options and doesn't necessarily reflect the risk of the issuer. In other...

Credit Event Cash Settlement

In the context of credit default swaps (CDS) and similar credit derivatives, settlement takes place once a credit event (bankruptcy,...

CoCo Reverse Convertible

It stands for contingent coupon reverse convertible; a reverse convertible in which the coupon is made contingent on a specific...

CoCo Bond

It stands for contingent convertible bond; a bond that can be converted into common stocks only when the share price...

Contingent Convertible Bond

A bond that can be converted into common stocks only when the share price rises sharply or a specified amount...