Primitive security

Primitive security

An instrument such as a stock or bond for which payments depend only on the financial status of the issuer.

Primitive Security

An investment vehicle for which dividends, coupons, or other payments depend on the financial health of the issuer. For example, an unsecured bond may be an example of a primitive security as coupons may only be paid if the issuer has the cash flow to pay them. Primitive securities have the potential to have higher risk than other securities, especially those coming from new or relatively unknown issuers.
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Such primitive security places these cars near the bottom of the pile.
CAMP Zeist was hailed as the most heavily fortified prison ever - but it now relies on fairly primitive security.
Museums and art galleries often have primitive security systems that are no match for today's thieves.