prime

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Related to primes: Primus, Twin primes

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 ?
I've known it long enough to lose my dread and be happy working for those I love, and don't call yourself old--forty is the prime of life.
Thir glittering Tents he passd, and now is come Into the blissful field, through Groves of Myrrhe, And flouring Odours, Cassia, Nard, and Balme; A Wilderness of sweets; for Nature here Wantond as in her prime, and plaid at will Her Virgin Fancies, pouring forth more sweet, Wilde above rule or art; enormous bliss.
His eminence will continue to be prime minister and her majesty's favorite, if he will grant to me and my friends what we demand for France and for ourselves.
There was a time," replied Athos, "when I occupied myself with the importance of prime ministers, but I have formed, long ago, a resolution to treat no longer with any but the king.
I have just left the Prime Minister, and you are to have the vacant seat in the Cabinet.
The prime minister and the director-general of public instruction were present to introduce me; but all the court had been dismissed lest the two bottles aforesaid should corrupt their morals.
The Prime Minister became the honoured friend of Viceroys, and Governors, and Lieutenant-Governors, and medical missionaries, and common missionaries, and hard-riding English officers who came to shoot in the State preserves, as well as of whole hosts of tourists who travelled up and down India in the cold weather, showing how things ought to be managed.
For when a man's stock is come to that, that he can expect the prime of markets, and overcome those bargains, which for their greatness are few men's money, and be partner in the industries of younger men, he cannot but increase mainly.
Harold March was to have traveled with his friend Horne Fisher on that inland voyage to Willowood Place, where the Prime Minister was a guest at the moment.
Those that would stand still of their own will were milked in the middle of the yard, where many of such better behaved ones stood waiting now--all prime milchers, such as were seldom seen out of this valley, and not always within it; nourished by the succulent feed which the water-meads supplied at this prime season of the year.
When that has been done, and I have become your royal highness's prime minister, I shall be able to think of my own interests and yours.
Holmes, which was at eight o'clock this morning, I at once informed the Prime Minister.