Special Claim on Residual Equity


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Special Claim on Residual Equity (SCORE)

A certificate that entitles the owner to the capital appreciation of an underlying security, but not to the dividend income from the security.

Special Claim on Residual Equity

A unit investment trust entitling the holder to the capital appreciation on the securities in the trust but not to dividends, coupons, or other claims. In other words, a SCORE behaves much like a warrant on the capital appreciation of stock. A SCORE has a strike price (known as a termination price) and an expiration date (known as a termination date). It contrasts with a PRIME. See also: Americus Trusts.
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