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Perpetual Preferred Share

A preferred share that has no redemption date. In other words, this fixed-rate equity instrument allows the holder no participation...

Perpetual Instrument

A financial instrument (typically, an equity instrument and at times a debt instrument) that is issued by an entity and...

Primary Instrument

An instrument (financial instrument) whose performance does not derive from value changes/ price movement of another instrument or an underlying...

Pre-Cessation Trigger

A contractual fallback that was set out in the LIBOR wording for the purpose of triggering a switch to the...

Put Option

A put option (put) that is not tradable- but rather is part of an instrument or structure, granting its holder...

Publicly Traded Real Estate Investment Trust

A real estate investment trust (REIT) that can be purchased and sold on an exchange through stock brokers and other...

Publicly Traded REIT

A real estate investment trust (REIT) that can be purchased and sold on an exchange through stock brokers and other...

Past Due

A situation that describes a financial asset (e.g., a loan) when the counterparty (debtor, borrower), fails, or has failed to...

Preferred Equity

A type of equity with certain rights and features that distinguish it from ordinary/ common equity. Preferred equity (e.g., preferred...

Preferred Securities

A fixed-income security (investment) that bears certain equity-like features. It is mainly issued by large banks and insurance firms. Preferred...