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.

LIONS

An acronym for a packaging vehicle for investments that have had their coupons stripped. See also coupon stripping.
References in classic literature ?
I know it," returned the Lion, wiping a tear from his eye with the tip of his tail.
Perhaps," said the Lion thoughtfully, "if I had no heart I should not be a coward.
But the Leader of the Lions, when he got back to his den, saw his wife, the Queen Lioness, come running out to meet him with her hair untidy.
And take all the other empty-headed lions with you-- and those stupid leopards and antelopes.
For a moment the lion stood with legs far outspread, then he raised first one paw and then another, shaking them energetically in an effort to dislodge the strange footgear that Tarzan had fastened upon them.
At last, however, by dint of the unrestricted use of his spear point, the ape-man succeeded in forcing the lion to move ahead of him and eventually guided him into the passageway.
To this the carter replied, "The cart is mine; what is in it is a pair of wild caged lions, which the governor of Oran is sending to court as a present to his Majesty; and the flags are our lord the King's, to show that what is here is his property.
those gentlemen who send them here shall see if I am a man to be frightened by lions.
And came the time once more when the witch-doctor no longer doubted the outcome of the duel, yet his first judgment was reversed, for now he knew that the jungle god would slay Simba and the old black was even more terrified of his own impending fate at the hands of the victor than he had been by the sure and sudden death which the triumphant lion would have meted out to him.
A lion moaned and coughed as it strode through the jungle toward water.
The lion stood with wide, round eyes awaiting the attack, ready to rear upon his hind feet and receive this rash creature with blows that could crush the skull of a buffalo.
He's the kind that ain't afraid of lions," Collins concurred.