Business and Personal Finance Dictionary

# A B C D E F G H I J K L M N O P Q R S T U V W X Y Z 

• PAC Z TRANCHE OR PAC Z BOND
  
  A CMO Z bond with some call and extension protection provided by collars. Like other Z bonds, a PAC Z bond earns interest that is accrued but not paid in cash for a defined time period. See Z tranche.
  
  Back