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Boil Spread

A spread that captures the difference between the return attained by investing in a bond issued by an oil-producing company...

Cum Div

An abbreviated form of cum dividend; a stock trades cum dividend (with or including dividend) when buyers qualify to receive...

Cum Dividend

A stock trades cum dividend (with or including dividend) when buyers qualify to receive the next dividend payment. The cum-dividend...

Cum Interest

In relation to fixed interest bearing securities (bonds, notes, debentures, etc), cum interest includes, in addition to the cost or...

Dirty Price of a Convertible

The price of a convertible as quoted inclusive of accrued interest. Some Euroconvertibles such as French convertible bonds are normally...

DL Bond

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

Drop-Lock Bond

A floating-rate bond that converts into a fixed coupon obligation when a reference interest rate (market interest rate) drops below...

Convertible Bond

A corporate bond that can be exchanged for a predetermined number of common shares of the bond's issuer at any...

Security

An instrument that is secured by an ownership stake (equity), debt obligation (note, bond, etc.), or contractual right (like options...

Redeemable At Par

A bond (or debt security) is redeemable at par when the holder has the right to receive its par value upon redemption or on maturity date....