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Glossary of Investment Terms

 

P

 

Par

 

Equal to the nominal face value of a security.

 

 

 

Payable Date

 

Date on which a declared stock dividend or a bond interest payment is scheduled to be paid to shareholders.

 

 

 

Penny Stock

 

Stock that typically sells for less than $1.00 per share. Penny stocks are issued by companies with a short or erratic history of revenues and earnings, and are therefore considered to be more volatile and involve more risk than those of large, well-established companies.

 

 

 

Pink Sheet

 

An OTC Bulletin Board stock that is not quoted in the daily newspaper listings of the Nasdaq Stock Market. "Pink Sheets" is a daily publication of the National Quotation Bureau that details the bid and ask prices of these stocks.  The Pink Sheets list penny stocks.

 

 

 

Preferred Stock

 

Class of capital stock that pays dividends at a specified rate and that has preference over common stock in the payment of dividends and the liquidation of assets. Preferred stock usually does not carry voting rights.

 

 

 

Premium (bonds)

 

Amount by which a bond sells above its face (par) value.

 

 

 

Premium

 

The cash price that the option buyer pays to the option writer.

 

 

 

Principal

 

Basic amount invested, exclusive of earnings.

 

 

 

Prospectus

 

Formal written offer to sell securities that sets forth the plan for a proposed business enterprise or the facts concerning an existing one that an investor needs in order to make an informed decision.

 

 

 

Public Offering Price

 

Price at which a mutual fund's shares can be purchased. The Ask or Offering price includes the current net asset value plus any sales charge (load).

 

 

 

Purchasing Power

 

Amount of credit available to a customer in a brokerage account for the purchase of additional securities. Determined by the dollar amount of securities that are marginable.

 

 

 

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