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

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

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

A phenomenon that arises when a planned amortization class (PAC) schedule is not met even if prepayments on the collateral...

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

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

An equity that has a negative value. This situation arises when an asset is worth less than the money used...

The process that is typically arranged at the contract date (not at settlement date) for the purpose of replacing all...

The basis amount that results from adjusting the gross basis for net carry. Net carry is the actual coupon income...

The pooling and repackaging of economic assets such as loans, bonds, and mortgages, in order to reallocate risks and obtain...