LIONS

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Liquid Yield Option Note

A convertible, callable, and putable zero-coupon bond. A LYON is a bond that is convertible to common stock and may be bought or sold as an option, but which does not pay interest. Because it pays no interest, it is issued at a considerable discount from par value of the bond. This guarantees a positive return to the investor, at least until such time as it becomes profitable for the investor to put the bond back to the issuing company for an amount over the issue price. Generally, the total return on a LYON is less than that of the company's common stock, assuming the company does well.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

LIONS

An acronym for a packaging vehicle for investments that have had their coupons stripped. See also coupon stripping.
Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.
References in classic literature ?
They were placing and baiting a trap for Numa, the lion. In a cage upon wheels they were tying a kid, so fastening it that when Numa seized the unfortunate creature, the door of the cage would drop behind him, making him a prisoner.
First was the necessity for ridding the jungle of man-eaters, and it was only after depredations by these grim and terrible scourges that a lion hunt was organized.
Tearing the unhappy creature in two Akut handed the lion's share to the lad.
Nor did he need the evidence of his eyes to tell him whether there were two lions or four up wind,--a hundred yards away or half a mile.
And the great lion lay and roared in helplessness, and at each prod exposed his nose more and lifted it higher, until, at the end, his red tongue ran out between his fangs and licked the boot resting none too gently on his neck, and, after that, licked the broomstick that had administered all the punishment.
"That's why he nearly blunted my claws," said the Lion. "When they scratched against the tin it made a cold shiver run down my back.
To create itself freedom, and give a holy Nay even unto duty: for that, my brethren, there is need of the lion.
"Finally Wallace cracked the old lion's knees with his whip and got him into position.
But the Leader of the Lions was a very proud creature.
By this time the lion's efforts had almost ceased--it was evident that he was being rapidly strangled and as that did not at all suit the purpose of the Tarmangani the latter swung again into the tree, unfastened the rope from above and lowered the lion to the ground where he immediately followed it and loosed the noose about Numa's neck.
"That is true," said Don Quixote; "close the door, my friend, and let me have, in the best form thou canst, what thou hast seen me do, by way of certificate; to wit, that thou didst open for the lion, that I waited for him, that he did not come out, that I still waited for him, and that still he did not come out, and lay down again.
Then he turned to see a huge, black-maned lion racing toward him and even as he turned, Numa seized him.