types:
mortgage-backed security
a security created when a group of mortgages are gathered together and bonds are sold to other institutions or the public; investors receive a portion of the interest payments on the mortgages as well as the principal payments; usually guaranteed by the government
registered security
a security whose owner's name is recorded on the books of the issuer (or issuer's agent)
scrip
a certificate whose value is recognized by the payer and payee; scrip is not currency but may be convertible into currency
bond,
bond certificate
a certificate of debt (usually interest-bearing or discounted) that is issued by a government or corporation in order to raise money; the issuer is required to pay a fixed sum annually until maturity and then a fixed sum to repay the principal
convertible,
convertible security
a corporate security (usually bonds or preferred stock) that can be exchanged for another form of security (usually common stock)
letter security
a stock or bond that is not registered with the Securities and Exchange Commission and cannot be sold in the public market
listed security
a security that has been accepted for trading by one of the organized and registered securities exchanges in the US
bond issue
bonds sold by a corporation or government agency at a particular time and identifiable by date of maturity
convertible bond
a bond that can be converted to other securities under certain conditions
corporate bond
a bond issued by a corporation; carries no claim to ownership and pays no dividends but payments to bondholders have priority over payments to stockholders
bearer bond,
coupon bond
a bond issued with detachable coupons that must be presented to the issuer for interest payments
government bond
a bond that is an IOU of the United States Treasury; considered the safest security in the investment world
high-yield bond,
junk bond
a (speculative) bond with a credit rating of BB or lower; issued for leveraged buyouts and other takeovers by companies with questionable credit
noncallable bond
a bond containing a provision that the holder cannot redeem the security before a specific date (usually at maturity)
performance bond,
surety bond
a bond given to protect the recipient against loss in case the terms of a contract are not filled; a surety company assumes liability for nonperformance
post-obit bond
a bond made by a reversioner to secure a loan; payable out of his reversion
registered bond
a bond whose owner is recorded on the books of the issuer; can be transferred to another owner only when endorsed by the registered owner
revenue bond
a bond issued by an agency that is commissioned to finance public works; revenue from the public property is used to pay off the bond
zero coupon bond,
zero-coupon bond
a bond that is issued at a deep discount from its value at maturity and pays no interest during the life of the bond; the commonest form of zero-coupon security
share
any of the equal portions into which the capital stock of a corporation is divided and ownership of which is evidenced by a stock certificate
Premium Bond
a government bond that bears no interest or capital gains but enters the holder into lotteries
letter stock
stock that has not been registered with the Securities and Exchange Commission and cannot be sold to the general public
letter bond
a bond that has not been registered with the Securities and Exchange Commission and cannot be sold to the general public