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Trust Preferred Security
(redirected from Trups)

    Also found in: Acronyms, Wikipedia 0.01 sec.
Trust Preferred Security
A security that has every feature of a debt security except for the fact that it is not actually debt. That is, TruPS have fixed coupons, a maturity date when the holder receives the face value, and an early redemption option. However, the holder does not lend the issuer money when he/she purchases a TruPS. Some companies favor TruPS to bonds and preferred stock because they are taxed like bonds but may be included as assets (and not liabilities) on a balance sheet.
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TRUPS spelled out TRUPS are created when a special purpose entity, which is controlled by a bank holding company, issues preferred stock.
Capital treatment of trust preferred securities changes by Financial Update
Citi has mailed the prospectus to the holders of its series of convertible and non-convertible public preferred stock and TRUPS and E-TRUPs that may be eligible to participate in the exchange offers.
Citi Announces Final Results of Public Share Exchange and Completes ... by Business Wire
Citi has mailed the prospectus to the holders of its series of convertible and non-convertible public preferred stock and TRUPS and E-TRUPs that may be eligible to participate in the exchange offers.
Citi Confirms July 29, 2009 Record Date for Common Proxy Statement by Business Wire
 
 
 
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