STRAIGHT BOND is the most common debt security. All other bond types are variations of, or additions to standard straight bond features. An investor pays a single capital sum to receive interest payments, called coupons, until a fixed maturity date when the last coupon is accompanied by redemption of the bonds face value. The coupon is simply a fixed rate of interest - paid annually or semi-annually - on the principal sum or face/par value. The debt is of fixed maturity - the principal redemption date. The maximum term is 30 years, but 7-10 years is most common.
TOR; among many others; can mean Time of Receipt, Terms Of Reference, Time of Report, etc.
STATUTORY DEDUCTIONS are those deductions that are required by law or regulation, e.g. payroll taxes deducted from wages.
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