A security (usually debt) that, in the event the issuer goes bankrupt, must be repaid before other creditors receive any payment. |||In the event of liquidation, senior debtholders have seniority and are repaid before the junior debt. This is also known as "unsubordinated debt".
A bond or other form of debt that takes priority over other debt securities sold by the issuer. |||In the event the issuer goes bankrupt, senior debt must be repaid before other creditors receive any payment.
A 20-year non-marketable U.S. government savings bond that pays semi-annual interest based on a coupon rate. This coupon is locked in at a fixed rate for the first 10 years, after which it is reset by the U.S. Treasury for the rest of the bond's life. Interest on Series HH bonds is exempt from state and local - but not federal - taxes. |||Series HH bonds were no longer available for purchase or exchange as of August 31, 2004. Denominations were available in amounts ranging from $500 to $10,000 with no capital appreciation potential, but early redemption and exchange options after six months. For many current HH bondholders, once the 10-year locked in rate expired, the coupon rate would fall as low as 1.5%. Investors should calculate the real return being earned to determine whether holding onto these bonds is the wisest choice or if the money received in redeeming the bonds could be put to better use in higher yield securities.
A non-marketable, interest-bearing U.S. government savings bond that is guaranteed to at least double in value over the initial term of the bond, typically 20 years. Most Series EE bonds have a total interest-paying life that extends beyond the original maturity date, up to 30 years from issuance. |||Series EE bonds issued after May 2005 are assigned a fixed coupon rate; rates are set twice per year in May and in November and apply to all issuances for the ensuing six months. Bonds issued after this date increase in value monthly, but interest payments are semiannual.Paper EE bonds are issued at a 50% discount to par, while bonds purchased electronically (through TreasuryDirect) are purchased at face value; the latter are still guaranteed to be worth twice their original value at first maturity date after 20 years, and pay interest the same way as paper EE bonds. Series EE bonds are considered ultra-safe, low-risk investments. Interest on Series EE bonds is typically exempt from state and local taxes, and coupon rates are assigned based on a percentage of the long-term Treasury rates at the time of issuance. Savings bonds must be held at least one year before they can be redeemed. If they are held for less than five years, a penalty of three months' interest will be assessed when the bonds are redeemed.
An exam administered by the Financial Industry Regulatory Authority (FINRA) for individuals seeking to become government securities limited representatives for registered broker/dealers. Series 72 license holders can sell government bonds and certain agency bonds such as GNMA securities and Federal Home Loan Mortgage (Freddie Mac) securities. The test consists of 100 questions. A score of 70% or better is required for passing. |||The Series 72 does not permit the sale of any type of derivatives on government securities. Overall, the license is limited in scope and should only be taken by people who know in advance that they will not need a more expansive registered representative license such as the Series 62 or Series 7.
A bond issue in which a portion of the outstanding bonds matures at regular intervals until eventually all of the bonds have matured. As they mature gradually over a period of years, these bonds are used to finance a project providing regular, level or predictable income streams. Serial bonds are also used to finance projects with regular, level debt payments such as residential developments. |||Serial bonds are issued on the same date and are quoted by their yield, as opposed to their price. The maturity date of the final group of serials is usually closely associated with the predicted apex of income streams from the project that the bonds financed.
A type of foreign-currency denominated bond that is issued in Japan by foreign entities. Organizations such as the World Bank have issued such debt instruments in the past .Also known as a "geisha bond". |||For example, if a Chinese company were to issue a renminbi-denominated bond in Japan, this would be considered a shogun bond.The shogun bond market has been relatively small. In fact, from 1994 to 2003, there have been no new shogun bond issues.This bond's name is derived from the word shogun, which refers to the traditional military leader of the Japanese army.
1. The name given to a bond rating performed on an issuing party by a credited institution, but without any public announcement of the results. 2. A rating given by S&P to Israel Bonds, which are not permitted to be traded on the secondary market. |||1. Shadow ratings are useful for companies trying to assess how much a debt issue might be worth to investors. Rather than publicly releasing the results of a credit analysis by a third party, companies might wish to first know what the results are before it is released to the public. 2. These ratings were given to determine the credit worthiness of bonds with no secondary market. In the past, Israel Bonds were considered to be more representative of donations rather than safe investments.
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