Synthetic Security definition
Synthetic Security. A security or swap transaction, other than a Participation Interest, that has payments associated with either payments of interest on and/or principal of a reference obligation or the credit performance of a reference obligation.
Synthetic Security means any Dollar denominated swap transaction, LCDX, structured bond investment, credit linked note or other derivative investment purchased from, or entered into with a counterparty, which investment contains a probability of default, recovery upon default and expected loss characteristics closely correlated to a reference obligation, but which may provide for a different maturity, interest rate or other non credit characteristics than such reference obligation.
Synthetic Security. Any U.S. Dollar denominated swap transaction (including any default swap), LCDX, structured bond investment, credit linked note or other derivative investment, which investment contains a probability of default, recovery upon default and expected loss characteristics closely correlated to a reference obligation, but which may provide for a different maturity, interest rate or other non credit characteristics than such reference obligation.
Examples of Synthetic Security in a sentence
Such obligation (x) is a First Lien Eligible Asset, a First Lien Recurring Revenue Eligible Asset, a Second Lien Eligible Asset, an Unsecured Obligation or a Subordinated Eligible Asset and (y) is not an, Synthetic Security, a Structured Finance Obligation, a Participation Interest (other than a Closing Date Participation Interest) or a Letter of Credit or an interest therein.
More Definitions of Synthetic Security
Synthetic Security means any Euro (which, for the avoidance of doubt, includes securities denominated in a legacy currency of those EU Member States which have adopted the Euro as their currency) denominated swap transaction, debt security, security issued by a trust or similar vehicle or other investment purchased from or entered into by the Issuer with a Synthetic Counterparty that satisfies, save to the extent otherwise agreed by the Rating Agencies, the Eligibility Criteria save for that relating to the jurisdiction of the Obligor thereunder, the returns on which (as determined by the Investment Manager) are linked to the credit and/or price performance of a Reference Obligation but which may provide for a different maturity, payment dates, interest rate, credit exposure or other non-credit related characteristics than such Reference Obligation; provided that:
Synthetic Security means any Dollar-denominated swap transaction (including any default swap), LCDX, structured bond investment, credit linked note or other derivative investment, which investment contains a probability of default, recovery upon default and expected loss characteristics closely correlated to a reference obligation, but which may provide for a different maturity, interest rate or other non-credit characteristics than such reference obligation.
Synthetic Security means any transaction, agreement or arrangement (or series of transactions, agreements or arrangements), including, without limitation, any derivative, swap, hedge, repurchase or so-called “stock borrowing” agreement or arrangement, the purpose or effect of which is to, directly or indirectly: (a) give a person or entity economic benefit and/or risk similar to ownership of any securities of the Corporation, in whole or in part, including due to the fact that such transaction, agreement or arrangement provides, directly or indirectly, the opportunity to profit or avoid a loss from any increase or decrease in the value of any securities of the Corporation, (b) mitigate loss to, reduce the economic risk of, or increase or decrease the voting power of, any person or entity with respect to any securities of the Corporation, or (c) provide the opportunity to profit or avoid a loss from any decrease in the value of any securities of the Corporation.
Synthetic Security means either a Synthetic Purchase Contract or a credit-linked note in respect of which each supporting credit default swap is a Form-Approved Swap or is in a form which has been the subject of a Rating Agency Confirmation.
Synthetic Security means any swap transaction, debt security, security issued by a trust or similar vehicle or other investment purchased from or entered into by the Issuer that satisfies the Eligibility Criteria with a Synthetic Counterparty, the returns on which (as determined by the Investment Manager) are linked to the credit and/or price performance of a Reference Obligation but which may provide for a different maturity, payment dates, interest rate, credit exposure or other non-credit related characteristics than such Reference Obligation; provided that:
Synthetic Security. Any derivative financial instrument with respect to a reference obligation entered into with a counterparty, whether in the form of a swap transaction, structured bond investment or otherwise.
Synthetic Security means a derivative financial instrument denominated in euro (or in one of the predecessor currencies of those EU Member States which have adopted the euro as their common currency) (or in any other currency and in respect of which an Asset Swap Transaction has been entered into) with respect to a debt instrument, whether in the form of a swap transaction (including an unfunded credit default swap under which the Issuer will be required to provide Synthetic Collateral for its contingent obligations to the Synthetic Counterparty thereunder), structured bond investment or any other form purchased from, or entered into by the Issuer with a Synthetic Counterparty, the returns on which are linked to the credit of a Reference Obligation issued by a Reference Obligor but which may provide for a different maturity, payment dates, interest rate, credit exposure or other credit or non-credit related characteristics than such Reference Obligation;