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Periodic Rate

The interest rate that results from converting the stated annual interest rate to a rate associated with a partial period....

PERLES

It stands for performance linked to equity securities; a synthetic security in which the payoff is based on the performance...

Perpetual Warrant

A warrant that never expires and therefore remains valid unless it is actually exercised. This warrant gives the holder the...

Percentage Premium

The difference between the bond’s price and its equity value or parity, expressed as a percentage: Premium = (convertible price-...

Performance Linked-To-Equity Securities

A synthetic security in which the payoff is based on the performance of an individual stock or an equity index....

Z-Spread

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

Lock-Up Reverse Convertible

A reverse convertible that is subject to a knock-out barrier and involves the sale (writing) of a knock-out put by...

Zero-Volatility Spread

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

Zero Rate

A zero-coupon interest rate is the rate of interest earned on an investment that is made over a given period...

Split Coupon Bond

A bond that is issued as a zero-coupon bond but which converts to a coupon paying bond at a specific...