Lyons definitions

lē-ōɴ', lyôɴ
proper name
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A type of zero-coupon bond instrument that is convertible into equity. The product allows corporations to raise cash by issuing debt, pay lower interest rates than they would with ordinary debt, and earn a tax break. LYONS were invented by Merrill Lynch executive Thomas H. Patrick in the mid-1980s. Other Wall Street firms have their own brand of liquid-yield option notes.
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