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PRIME

Stands for Prescribed Right to Income and Maximum Equity, a certificate that entitles the owner to the dividend/income from an underlying security, but not to the capital appreciation of that security.

Prime

1. In commercial banking, the best available interest rate under most circumstances. Generally speaking, only the most creditworthy customers receive the prime, but this is not always true. In any case, a prime serves as a benchmark against which other interest rates are compared. In this sense, it is also called the prime rate.

2. Describing the highest possible credit rating on a bond, either Aaa (for Moody's) or AAA (for S&P and Fitch).

prime

1. Of or relating to a debt security rated AAA or Aaa.
2. See prime rate.

prime

To come before another creditor in terms of priority of payment should there be insufficient assets to pay all creditors.A first mortgage holder primes a second mortgage holder,who primes a later judgment creditor, who primes a general unsecured creditor. Filing for bankruptcy reshuffles the deck,as the bankruptcy trustee primes large categories of creditors.

References in classic literature ?
We shall have to have a serious talk," the Prime Minister said, "in a few days' time.
The Prime Minister hasn't brought a valet; he's brought a secretary instead," observed Fisher.
The jewelled order of his knighthood went back to the Indian Government, and a new Prime Minister was appointed to the charge of affairs, and a great game of General Post began in all the subordinate appointments.
But he worships strange gods," said the prime minister, deferentially.
Each member of the Cabinet was informed of it yesterday, but the pledge of secrecy which attends every Cabinet meeting was increased by the solemn warning which was given by the Prime Minister.
You will go and write your letter to the Prime Minister now, won't you?
And now to business," said the prime minister, a very fat man.
The ambitious cardinal, who was prime minister to Henry VIII.
Felix Sweetsir, being near-sighted, was obliged to fit his eye-glass in position before he could recognize the prime minister of Lady Lydiard's household.
I make no manner of doubt but that, in this light, we may see the imaginary future chancellor just called to the bar, the archbishop in crape, and the prime minister at the tail of an opposition, more truly happy than those who are invested with all the power and profit of those respective offices.
The prime minister," she said, "is obliged in these unsettled days to inform the queen of all that is happening from time to time, without exciting the curiosity or remarks of the court.
A vision of English history, King following King, Prime Minister Prime Minister, and Law Law had come over him while his wife spoke.

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