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Preferred Equity Redemption Stock - PERC
What does it mean?
Preferred stock with special provisions limiting the value of its convertible shares and the mandatory redemption value at maturity.
In Other Words...
PERCs generally offer a higher yield than common stocks. However, they can be called at any time, generally at a higher price than the cap price. When the PERC matures, it must be redeemed into either cash or underlying shares.
Related Links
Stock Basics Tutorial - If you're new to the stock market and want the basics, this is the tutorial for you!
Related Terms
Convertible Bond | Convertible Preferred Stock | Preferred Stock | Prides | Synthetic
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