Business and Personal Finance Dictionary

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• EQUITY-LINKED DEBT SECURITY
  
  Fixed-income, equity-linked debt securities of corporation A, that participate in the change in price of the "linked" common stock of corporation B. Four main examples, listed on the American Stock Exchange, include Salomon Brothers' ELKS (sm) (q.v.), Bear Stearns' CHIPS (sm) (q.v.), Lehman Brother's YEELDS (sm) (q.v.), and Morgan Stanley's PERQ's (sm) (q.v.). These four pay quarterly interest at a fixed percentage rate. (Source: http://www.amex.com)
  
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