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 ?
Parallel investigations are being carried out by French and Russian experts - one Russian official said last month that no traces of polonium had been found.
Lawrence Kobilinsky, a professor of forensic science at the John Jay College of Criminal Justice in New York, also said the report does not prove Arafat died from polonium.
Some 60 samples were taken from the remains of the late Palestinian leader in November last year for a probe into whether he was poisoned by polonium.
Others were contaminated by Polonium 210 and some will have an increased long term health risk.
On Saturday, the authorities found traces of polonium contamination in the house of Mr Kovtun's ex-wife Marina.
Evidence of polonium 210 were found in the London office of his friend, the tycoon Boris Berezovsky.
In 1911 Marie Curie was awarded the Nobel Prize in Chemistry for producing a pure metal sample of radium and establishing the atomic weight of radium and polonium.
Iran has produced and experimented with polonium, a radioactive element that can be used to detonate nuclear weapons, without informing the International Atomic Energy Agency (IAEA), diplomatic sources close to the IAEA said Tuesday.
Polonium may also be captured in greater quantities during scrubbing operations because, like radon, it can readily combine with fluoride.