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First-Loss Piece

A tranche that comes with the lowest priority amongst the entire set of tranches constituting a securitized structure (CMBS structure,...

Residual Tranche

A tranche that comes with the lowest priority amongst the entire set of tranches constituting a securitized structure (CMBS structure,...

Fake Perpetual FRN

A perpetual FRN which contains a call option given to the issuer. However, if the issuer doesn’t exercise this option…

Foreign Discount Bond

A convertible bond that is denominated in a currency other than the currency of its underlying shares. As opposed to…

Financing-Based Crowdfunding

A crowdfunding which involves the crowd lending to businesses (people to business/ person to business- P2B) or to persons (peer…

DL Note

It stands for drop-lock note; a floating rate note that converts into a fixed coupon obligation when a reference interest…

Pro-GroS

It stands for protected growth security; a callable equity-linked note which provides its holder with principal protection and upside participation,...

Protected Growth Securities

A callable equity-linked note which provides its holder with principal protection and upside participation, while depriving him/ her of any...

Premium Put Option

A put option which is embedded in a premium put convertible, giving the bondholder the right to demand redemption of...

Ponzi Scheme

An investment fraud that involves the payment of purported returns to original “investors” (the scheme organizers) or early entrants from...