tranche
Pronunciation:
/tɹɑːnʃ//tɹæntʃ/noun
Definitions
A slice, section or portion.
A distinct subdivision of a single policyholder's benefits, typically relating to separate premium increments.
A pension scheme's or scheme member's benefits relating to distinct accrual periods with different rules.
One of a set of classes or risk maturities that compose a multiple-class security, such as a CMO or REMIC; a class of bonds. Collateralized mortgage obligations are structured with several tranches of bonds that have various maturities.
verb
Definitions
To divide into tranches.