Treasury Lock

Treasury Lock

A derivative whereby one guarantees oneself a particular yield on a Treasury security. That is, one purchases a Treasury lock for a certain price; if the actual price of the designated Treasury security is higher than the price of the lock, the buyer must pay the difference. On the other hand, if price is lower than the price of the lock, the buyer receives the difference. One buys a Treasury lock when a certain yield is important to his/her investment strategy but there is uncertainty on the future direction of Treasury yields. Treasury locks are settled in cash.
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1 million loss recognized in the third quarter of fiscal 2013 on a reverse treasury lock entered into in conjunction with the retirement of the 2017 Senior Notes and markdowns in fixed income positions in the Company's seed capital portfolio in the third quarter of fiscal 2013.
Best also considers Lincoln's enterprise risk management to be a core strength, as evidenced by strong hedging practices within its variable annuity product line and strategic execution of reverse treasury lock transactions to counter low interest rates and prefund new ULSG business.
as a result of two forward treasury lock agreements previously entered into between NHP and JPMorgan Chase Bank, N.
DALLAS -- Atmos Energy Corporation (NYSE: ATO) today announced the unwinding of two Treasury lock agreements with a cumulative notional amount of $250 million generating a pretax cash gain of approximately $28 million.
In addition, on November 29, 2010, the Company entered into two Treasury lock agreements to fix the yield on the U.
On April 7, 2010, in connection with the offering, the Company entered into two treasury lock agreements to fix the 10-year treasury rate at 3.
expense of the Settlement of Treasury Lock of $2,492 and were reported
5 million fourth quarter 2008 after-tax charge related to the termination of a treasury lock that was contracted in 2006 to hedge the interest rate in anticipation of a 2008 bond offering.
Full year 2006 adjusted earnings also exclude a gain in the second quarter from a settlement with a former client and a gain on a treasury lock agreement.
Quarter Ended Nine Months Ended September 30, 1999 September 30, 1999 Net Income $ 12,816 $ 35,668 Add: Minority Interest 2,606 10,472 Real Estate Related Depreciation and Amortization 8,028 22,159 Settlement of Treasury Lock -- 2,492 Preferred Unit Distributions (1,834) (2,815) Gain (Loss) on Sale of Real Estate 653 (2,751) Funds from Operations $ 22,269 $ 65,225 Weighted Average Shares Outstanding(a) Basic 43,634 43,597 Diluted 43,703 43,615 Funds from Operations per Share (a) Basic $ 0.
02 per share after tax gain from a treasury lock agreement, diluted earnings were $.
04 Adjusted EBITDA reconciliation: Income from operations $2,655 $1,107 Depreciation and amortization 3,134 2,957 Adjusted EBITDA 5,789 4,064 Reconciliation of net loss excluding gain on treasury rate lock: Net loss $(758) Less gain on treasury rate lock, net of tax (174) Net loss excluding gain on treasury lock (932) Reconciliation of net loss excluding gain on treasury rate lock: Net loss per diluted share $(0.
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