What is the meaning of Liquid yield option note (LYON)?

Zero-coupon, callable, putable, convertible bond developed by Merrill Lynch & Co.

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APABarry Goldsmith. (2010). liquid yield option note (lyon). Retrieved September 25, 2026, from http://smartdefine.org/liquid_yield_option_note_(lyon)/definitions/1157299
ChicagoBarry Goldsmith. 2010. "liquid yield option note (lyon)" http://smartdefine.org/liquid_yield_option_note_(lyon)/definitions/1157299 (accessed September 25, 2026).
HarvardBarry Goldsmith 2010, liquid yield option note (lyon), Smart Define, viewed 25 September, 2026, <http://smartdefine.org/liquid_yield_option_note_(lyon)/definitions/1157299>.
MLABarry Goldsmith. "liquid yield option note (lyon)" 21 October 2010. Web. 25 September 2026. <http://smartdefine.org/liquid_yield_option_note_(lyon)/definitions/1157299>