PIK

Another coupon variant but paid "in-kind," with additional loans or bonds rather than cash. Loans or bonds can have PIK elements to their coupon structure or be outright PIK loan or bond instruments which are usually highly speculative junior debt instruments.

Investing in wiseAlpha Notes involves risks including potential illiquidity and loss of investment. Our Notes are not deposit based or capital protected and are not covered by the Financial Services Compensation Scheme.The interest rate on our products is not comparable to that of a bank savings account. See Risk Statement.

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