U.K. Mips
Goldman, Sachs’s variation on its Mips structure, tailored to maximize its advantages for the UK market in ways that the U.S. government wouldn’t allow. Grand Metropolitan Delaware (limited partnership) issued 20 million “preferred securities” paying quarterly dividends at $25, lending the proceeds to Grand Metropolitan plc via a perpetual, subordinated loan with the seniority of preferred stock
Up-and-in Option
An option that pays off nothing, unless the underlying price rises to an upper barrier.
Up-and-out Option
An option that pays off as the corresponding ordinary option, unless the underlying price rises to an upper barrier.
