A Certificate of Deposit (CD) is a time deposit offered by banks, credit unions, and other financial institutions with a predetermined interest rate and maturity date.
Loan stock is a type of fixed-income security that represents borrowed funds, usually in the form of bonds or debentures, which companies issue to raise capital on which interest is paid until the maturity or redemption date.
The specific day when a financial obligation, such as a bond, bill of exchange, or insurance policy, comes due for payment, marking the end of its term.
Original maturity refers to the interval between the issue date and the maturity date of a bond, distinct from current maturity, which measures the remaining time from the present to the maturity date.
Payment in due course refers to the payment of a negotiable instrument, such as a check or promissory note, made when it is due or later, to its rightful holder, conducted in good faith and without notice of any defects in the holder's title.
Redemption refers to the repayment of shares, stocks, debentures, or bonds as specified at the time of issue, often including a fixed redemption date and amount.
The redemption date refers to the specific date on which a bond or other fixed-income security is repaid by the issuer, fulfilling the terms of the debt agreement.
The redemption price is the predetermined value at which a bond or preferred stock can be repurchased or redeemed by the issuer before its maturity date, commonly referred to as the call price.
Senior refunding refers to the process of replacing securities maturing in 5 to 12 years with issues that have original maturities of 15 years or longer. Objectives can include reducing the bond issuer's interest costs, consolidating several issues into one, or extending the maturity date.
