

tranche
/tษนษหnส/ /tษนรฆntส/


noun
A pension scheme's or scheme member's benefits relating to distinct accrual periods with different rules.

noun
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.

