Business and Personal Finance Dictionary

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• LASER
  
  Paribas Capital Markets' Liquid Asset Swap with Enhanced Return. A kind of SPV (q.v.) that Moody's rated A1. The initial US dollar one-year issue contained a repackaged Swiss franc private placement priced at six-month Libor plus 25bp. In the event of a failure of the Laser security, holders receive the underlying coupon and principal payments. (Source: http://emwl.oyster.co.uk/contents/publications/euromoney/em.96/em.96.04/em.96.04.12.html)
  
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