Zero-coupon exchangeable notes. Equity-linked notes that pay at maturity the greater of 100% of the appreciated value of original principal invested in stock or the original principal amount. Any time before maturity, the bondholders can exchange the bonds for 95% of the appreciated value of the corresponding stock. The bondholders pay for their embedded options by accepting a lower coupon plus quarterly dividend payments. ("RELIANT ISSUES $1b IN EQUITY-LINKED NOTES" Power Finance & Risk, 9/27/99.).
Barry Goldsmith
| APA | Barry Goldsmith. (2010). zens. Retrieved September 21, 2026, from http://smartdefine.org/zens/definitions/1166743 |
| Chicago | Barry Goldsmith. 2010. "zens" http://smartdefine.org/zens/definitions/1166743 (accessed September 21, 2026). |
| Harvard | Barry Goldsmith 2010, zens, Smart Define, viewed 21 September, 2026, <http://smartdefine.org/zens/definitions/1166743>. |
| MLA | Barry Goldsmith. "zens" 21 October 2010. Web. 21 September 2026. <http://smartdefine.org/zens/definitions/1166743> |