Base Offering Circular - Multifamily
482090
57
Standard
Abbreviation
Category of
Class
Definition
PZ
Partial Accrual
A Class on which interest accrues during any Accrual Period and (a)
a portion of such accrued interest is added to its principal amount on
each Distribution Date and is not distributable as interest thereon
until a later date or the occurrence of a specified future event, and (b)
simultaneously, the Class receives distributions of the remainder as
interest. The interest that accrues on such Class but is not distributed
to such Class is distributed to certain Accretion Directed Classes or
other Classes as principal.
WAC
WAC (or
Weighted
Average Coupon)
Classes whose Interest Rates represent a blended interest rate that
may change from period to period. WAC Classes may consist of
Components, some of which have different interest rates.
Z
Accrual
Accrual Classes accrete all of their interest; that is, the interest is
added to the outstanding principal balance of the Accrual Classes.
This accretion may continue until these Classes begin receiving
principal distributions, until some other event has occurred or until
these Classes are retired. The interest accrued on the Accrual Classes
may be distributed to certain Accretion Directed Classes or other
Classes as principal.
OTHER TYPES
IMD
Increased
Minimum
Denomination
Classes to be offered and sold in higher minimum denominations than
those of other Classes.
SP
Special
Classes having characteristics other than those identified above.