Liquid Yield Option Note - LYON

外汇网2021-06-19 14:10:00 89

A zero coupon bond that is callable (by issuer), putable (by investor), and convertible. LYONs are synthetic products that are financially engineered by Merrill Lynch.

|||A LYON typically assures the holder a positive return. This return is maintained until the opportunity to put the security back to the issuer at a pmium over the issue price no longer exists.

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