Guaranteed Personal Loan
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Certificates issued by a trust that was formed to purchase an asset and lease it to a lessee. When the last of
the certificates has been repaid, title ownership of the asset transfers to the lessee. 
 
Equity 
 
Represents ownership interest in a firm. Also the residual dollar value of a futures trading account, assuming
its liquidation occurs at the going trade price. 
 
Equity cap 
 
An agreement in which one party, for an upfront premium, agrees to compensate the other at specific time
periods if a designated stock market benchmark is greater than a predetermined level. 
 
Equity claim 
 
Also called a residual claim, a claim to a share of earnings after debt obligations have been satisfied. 
 
Equity collar 
 
The simultaneous purchase of an equity floor and sale of an equity cap. 
 
Equity contribution agreement 
 
An agreement to contribute equity to a project under certain specified conditions. 
 
Equity floor 
 
An agreement in which one party agrees to pay the other at specific time periods if a specific stock market
benchmark is less than a predetermined level. 
 
Equityholders 
 
Those holding shares of the firms equity. 
 
Equity kicker 
 
Used to refer to warrants because they are usually issued attached to privately placed bonds. 
 
Equity-linked policies 
 
Related: Variable life 
 
Equity market 
 
Related:Stock market 
 
Equity multiplier 
 
Total assets divided by total common stockholders equity; the amount of total assets per dollar of
stockholders equity. 
 
Equity options 
 
Securities that give the holder the right (but not the obligation) to buy or sell a specified number of shares of
stock, at a specified price for a certain (limited) time period. Typically one option equals 100 shares of stock. 
 
Equity swap