face-amount certificate


A debt security issued by a type of mutual fund called a face amount certificate company. The debt holder makes payments periodically to the issuer, and the issuer agrees to pay to the holder the face value at maturity (or a different amount if the security is called prior to maturity).
Browse Definitions by Letter: # A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
face value face-amount certificate company