A default free security that generates "default flow" cash flows (interest payments) over a span of certain period. By nature,...

A debenture that does not carry a specific rate of interest (and hence, it is known as zero coupon). As...

A type of convertible that has no current yield because it pays no coupon. However, the bond has a positive…

It stands for zero-volatility spread; the spread that would be realized over the whole risk-free spot rate curve if a…

The spread that would be realized over the whole risk-free spot rate curve if a given risky security such as…

A long-term commercial mortgage loan in which all payments of principal and interest are deferred until maturity. In this loan,…

An accrual note (accumulation note) in which the initial price is below par, while it has a zero-coupon or very…

A convertible that comes with no annual coupon, but rather it is issued at a deep discount to par. In…

A loan for which a borrower is not required to pay any interest. However, a borrower will have to repay...

It stands for zero-coupon tranche; an alternative term for principal only tranche; a tranche, part of an IO/ OP structure,...