Interest Only Strip

Interest Only Strip

A derivative security whose cash flow derives exclusively from interest payments on various debt securities. That is, the underlying asset of an interest-only strip is interest paid on debt securities, rather than the debt securities themselves. Many interest only strips are backed by mortgage interest, but some are also backed by Treasury securities and other debt securities. Interest-only strips are derived from bonds whose coupons are legally separated, or "stripped", from the bonds themselves.
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4MM interest only strip receivable that were discussed in its April 5, 1999 press release.
Mandia, "Our total expenses as a percentage of total revenues held steady despite the non-cash charge associated with a valuation adjustment of our interest only strip.
the interest only strip class A-3XP are affirmed at "AA".
6 million and are affirmed "AAA"; the $100 million Class A-2 Certificates are affirmed "AAA," and the $100 million Class A-3 and the interest only strip Class A-3XP Certificates are affirmed "AA.
Class X is an interest only strip that receives interest on a portion of the mortgage loans based on a notional amount.
Class A-2S is an interest only strip off of the Class A-2 certificates that receives cash flow prior to the Class B certificates.
This increase is the result of the Company's larger average interest only strip ("I/O Strip") outstanding balance during the December 31, 1997 quarter, primarily due to the accelerated timing of the 1997-4 securitization transaction, along with an increase in the yield of the I/O Strips.
Class 2 S is an interest only strip that receives its cash flow prior to all other classes.
Class A-9 is an interest only strip which pays interest on the Class A-9 notional amount (initially $12,322,800) at a per annum rate of 22 percent through May 24, 1995, and then will pay interest at a per annum rate equal to 37.