GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW) | ||||||
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14:08 Aug 17, 2002 |
German to English translations [PRO] Bus/Financial - Finance (general) | |||||||
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| Selected response from: Eva Blanar Hungary Local time: 05:57 | ||||||
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Summary of answers provided | ||||
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5 | non-callable tranche |
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3 | bullet securities |
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bullet securities Explanation: Zahn has enfällige Anleihe as - bullet bond (issue) []bond issue the principal of which is repaid only when the bond matures and endfälliges Darlehen as - maturity (bullet) loan Also found several good references for "bullet securities" "Typical buy-and-hold investors, because they only focus on income, could utilize a "break-even" method to compare two bullet securities. For example, suppose that we were trying to compare the risk/reward between a 1-year treasury at 5.58% and a 2-year treasury at 5.98%. If we ignore market value, then we would have to compare total income on both securities for two years (because that is the first date both securities will be free from market- value risk). " and "Fannie Mae Non-Callable Debt Long-term debt securities are those issues with maturity dates longer than one year. Investors have found our non-callable or bullet securities attractive for their tradability and liquidity, as well as for the spread advantage they offer relative to comparable maturity U.S. Treasuries. Fannie Mae bullets typically have semiannual coupon payments and principal is redeemed only at the stated final maturity of the security" Reference: http://www.banking.com/aba/asset_1296.htm Reference: http://198.204.142.96/markets/debt/education/debt_securities... |
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non-callable tranche Explanation: It looks like the green shoe option facility for a multiple-class security: when the issue is done in several sets (classes / maturities) and some of the securities concerned are callable (=able to be redeemed prior to maturity) and some of these are not. (E.g. bullet bonds) To make the translation difficult, 'nicht endfaellige Stücke' practically is a double negation, so for the expression in the bracket I would use ***the callable tranche***. |
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