Principal Only Security definition
Principal Only Security. Any Collateral Debt Security (other than a Step-Up Security) that does not provide for payment of interest or provides that all payments of interest will be deferred until the final maturity thereof.
Principal Only Security means a security that is structured to provide for the payment of principal in cash at not less than par upon maturity, redemption or acceleration, but not for the payment of interest.
Principal Only Security means any security (other than a Zero Coupon Bond) that does not provide for the periodic payment of interest.
More Definitions of Principal Only Security
Principal Only Security. Each of the Class FXP Securities and Class P Securities.
Principal Only Security means any Loan or Qualifying Asset-Backed Security that does not provide for payment of interest or provides that all payment of interest will be deferred until the final maturity thereof.
Principal Only Security means any Collateral Debt Security (other than a Zero Coupon Bond) that does not provide for the periodic payment of interest.
Principal Only Security means any security (other than a Step-Up Security) that does not provide for payment of interest or provides that all payments of interest will be deferred until the final maturity thereof.
Principal Only Security means any Asset-Backed Security that does not provide for the payment of rated interest in periodic installments on or prior to the date three Business Days prior to the Stated Maturity of the Notes or provides that all payments of interest will be deferred until the final maturity date thereof.