PO

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PO

Principal Only

Describing a derivative in which the underlying assets are the future principal payments on a pool of mortgages or other debt obligations. Principal-only derivatives are issued at a deep discount to their par value; that is, one buys such derivatives for an amount less than the principal payments to which the holder is entitled. The gain on a principal-only derivative comes from the amount by which principal payments exceed the amount that the holder pays for the security. For that reason, holders of these derivatives can benefit from prepayment risk because when property owners repay their mortgages more quickly, principal-only derivative holders receive their returns more quickly.

PO

References in periodicals archive ?
SIGHTSEEING The 48-hour Torino Card offers free travel throughout the city, including the TurismoBus service, the lift to the top of the 530ft Mole Antonelliana tower for breathtaking panoramic views, the Superga funicular, River Po cruises and free entrances to all the Royal Palaces and more than 100 other museums and attractions.
The cornerstone of the League's history was marked by the demonstration on the river Po.
Dr Barry Morgan crosses the River Po The Archbishop of Wales, Dr Barry Morgan, left, with the Archbishop of Canterbury, Dr Rowan Williams, at Canterbury Cathedral
Set beside the River Po and with the Alps clearly visible in the distance, Turin's handsome buildings, grand squares and elegant arcades - all recognisable from the film - are even more impressive in reality.
Cpl Broderick was serving with Allied forces on an operation on the Adriatic coast, near the mouth of the River Po, as the Army was trying to reach Venice.
The plan was for a procession along the route of the River Po - culminating in a triumphant declaration of the independent Republic of Padania at a mass rally in Venice today.
Contract award: supply of electromechanical works with installation and related works for the rehabilitation of the irrigation outlet in the city of boreham boreham (re) by placing the riverbed of the river po and lean adjustment of the lifting system.
The hotel is on the River Po and is home to chef Massimo Spigaroli and his airy Michelin-starred restaurant.