High Water Mark
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Looks at the index value at various points during the contract, usually annual anniversaries. It then takes the highest of these values and compares it to the index level at the start of the term.
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Source:
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United States Securities and Exchange Commission
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High Yield
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A high-yield bond is by definition a "Non-Investment Grade" security under the Trade Reporting and Compliance Engine (TRACE) Rules. A high-yield bond is a corporate bond that is rated as speculative grade by a nationally recognized statistical rating agency.
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Source:
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National Association of Securities Dealers, Inc.
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