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endfällige Stücke

English translation: non-callable tranche

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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
German term or phrase:endfällige Stücke
English translation:non-callable tranche
Entered by: Natalie Wilcock
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14:08 Aug 17, 2002
German to English translations [PRO]
Bus/Financial - Finance (general)
German term or phrase: endfällige Stücke
Um die bisherige Möglichkeit Teile einer Emission (begebene Wertpapiere) erst zu einem späteren Zeitpunkt als dem Emissionszeitpunkt im Sekundärmarkt zu verkaufen, weiterhin aufrecht erhalten zu können, wird XYZ die technische Möglichkeit einrichten, den noch nicht verkauften Teil der Emission auf einem Depotunterkonto xxx/yyy zu buchen. Sobald die entsprechenden Wertpapiere verkauft oder zurückgekauft wurden (nicht endfällige Stücke), sind sie vom Unterkonto auf das Hauptkonto zurück zu buchen.
Natalie Wilcock
Local time: 15:37
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***.
Selected response from:

Eva Blanar
Hungary
Local time: 15:37
Grading comment
Dear Eva,

thank you for the input. my customer actually called and said they'd made a complete mistake with that sentence. however, your answer pointed me (and ultimately them) in the right direction after I checked with them.

thanks again.
regards
natalie
1 KudoZ points were awarded for this answer

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Summary of answers provided
5non-callable tranche
Eva Blanar
3bullet securities
Alison Schwitzgebel


  

Answers


6 mins   confidence: Answerer confidence 3/5Answerer confidence 3/5
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...
Alison Schwitzgebel
France
Local time: 15:37
Specializes in field
Native speaker of: Native in EnglishEnglish, Native in GermanGerman
PRO pts in category: 237
Login to enter a peer comment (or grade)

1 hr   confidence: Answerer confidence 5/5
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***.

Eva Blanar
Hungary
Local time: 15:37
Specializes in field
Native speaker of: Hungarian
PRO pts in category: 13
Grading comment
Dear Eva,

thank you for the input. my customer actually called and said they'd made a complete mistake with that sentence. however, your answer pointed me (and ultimately them) in the right direction after I checked with them.

thanks again.
regards
natalie
Login to enter a peer comment (or grade)




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Changes made by editors
Aug 3, 2005 - Changes made by Natalie Wilcock:
Field (specific)(none) » Finance (general)


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