The price that an investor pays for a security. This price is important as it is the main component in calculating the returns achieved by the investor. Essentially, it can be thought of as the price that is paid for anything that is bought. Taobiz explains Purchase Price For example, if an investor buys Ford stock at $15, then this would be the purchase price. When looking at the return on the investment, the investor would compare the purchase price of $15 to the price the investment was sold at or the current market price for Ford. Purchase price can also refer to the price that a company pays for an item, such as another company. For example, if Ford bought Kia for $3.5 billion, this would be Ford's purchase price.
A stipulation in a municipal bond indenture that requires the issuer (the municipality selling the bonds to fund a given development project) first to use revenues to pay down the issue's debt-servicing costs, delegating operating costs as second priority and likely funding them from other revenue sources. These bonds are most often tax free at the federal level. |||Like most restrictive provisions in a bond indenture, a gross revenue pledge makes the debt issue safer for bondholders. The bondholders do not have to worry about the municipality potentially misusing revenues that should have been used to pay debt-servicing costs. Generally, the added safety created by the gross revenue is a cause for the bond issue to be offered at a lower interest rate.
A tax-exempt bond which is issued by federally qualified organizations and/or municipalities for the development of brownfield sites. Brownfield sites are areas of land that are under utilized, have abandoned buildings, or are under developed. They often contain low levels of industrial pollution. Green Bonds are short-hand for Qualified Green Building and Sustainable Design Project Bonds. |||These bonds are created to encourage sustainability and the development of brownfield sites.The tax-exempt status makes purchasing a green bond a more attractive investment when compared to a comparable taxable bond. To qualify for green bond status the development must take the form of any of the following:1) At least 75% of the building is registered for LEED certification;2) The development project will receive at least $5 million from the municipality or State; and3) The building is at least one million square feet in size, or 20 acres in size.
A warrant that gives the holder the right to sell the underlying share for an agreed price on or before a specified date. Taobiz explains Put Warrant Basically, it's a warrant that gives the right to sell.
Debt securities that a firm has the ability and intent to hold until maturity. |||These are reported at amortized cost, therefore, they are not affected by swings in the financial markets.
A company devoted to one line of business, or a company whose stock price is highly correlated with the fortunes of a specific investing theme or strategy. Taobiz explains Pure Play For example, a startup R&D company developing a new technology would be considered pure play because its success depends upon a single product. Coca-Cola would also be considered a pure play in the beverage business. Whereas Pepsi wouldn't be pure play, because it has activities in the food business.
A time interval that captures all relevant company activity that occurred between the beginning of the current quarter and the time in which the data was gathered. Quarter to date information is typically gathered in situations when the entire quarterly period has not ended yet, and it can allow management to see how the quarter is shaping up. Taobiz explains Quarter To Date - QTD For example, a company may have software that is tracking its revenue for the quarter to date. If the information is suggesting that QTD revenue is dramatically lower than the same quarter from last year, this updated data will allow management to start looking for trends to see what is different compared to last year. Further analysis can also determine if any changes will need to be made in order to improve the situation.
A warrant that requires the holder to surrender a similar bond when purchasing a new fixed-income instrument. For the warrant to be exercisable, the two bonds must have similar terms, such as maturity, yield and principal.Also known as a "wedding warrant." |||Issuing a harmless warrant provides the debt issuer with some call protection. Under a normal warrant, bond holders might all opt to buy more instruments, drastically increasing the firm's level of debt. With a harmless warrant, the original bond must be surrendered at the time of purchase, allowing the level of debt to remain constant.
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