| Home | About Us | Loan Advice | Secured Loans | Personal Loans | Bad Credit Loans | Homeowner Loans | Contact Us |
|
|||||||||||||||||||
|
|||||||||||||||||||
|
|||||||||||||||||||
|
|||||||||||||||||||
  
Protectionism
Protecting domestic industry from import competition by means of tariffs, quotas, and other trade barriers.
Protective covenant
A part of the indenture or loan agreement that limits certain actions a company may take during the term of
the loan to protect the lenders interests.
Protective put buying strategy
A strategy that involves buying a put option on the underlying security that is held in a portfolio. Related:
Hedge option strategies
Provisional call feature
A feature in a convertible issue that allows the issuer to call the issue during the non-call period if the price
of the stock reaches a certain level. Mainly applies to convertible securities. right of an issuer to accelerate
the first redemption date if the underlying common should trade at or above a certain level for a sustained
period. Most typical terms are 150% of conversion price for 20 consecutive days. Note that under these
circumstances the security has appreciated, at a minimum, 50% since being issued.
Proxy
Document intended to provide shareholders with information necessary to vote in an informed manner on
matters to be brought up at a stockholders meeting. Includes information on closely held shares.
Shareholders can and often do give management their proxy, representing the right and responsibility to
vote their shares as specified in the proxy statement.
Proxy contest
A battle for the control of a firm in which the dissident group seeks, from the firms other shareholders, the
right to vote those shareholders shares in favor of the dissident groups slate of directors. Also called proxy
fights.
Proxy fights
Often used in risk arbitrage. Technique used by an acquiring company to attempt to gain control of a
takeover target. The acquirer tries to persuade the shareholders of the target company that the present
management of the firm should be ousted in favor of a slate of directors favorable to the acquirer, thus
enabling the acquiring company to gain control of the company without paying a premium price.
Proxy vote
Vote cast by one person on behalf of another.
PSA
A prepayment model based on an assumed rate of prepayment each month of the then unpaid principal
balance of a pool of mortgages. PSA is used primarily to derive an implied prepayment speed of new
production loans, a 100% PSA assumes a prepayment rate of 2% per month in the first month following the
date of issue, increasing at 2% per month thereafter until the 30th month. Thereafter, 100% PSA is the same
as 6% CPR.
Publicly traded assets
Assets that can be traded in a public market, such as the stock market.
Public offering
|
