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Finance Glossary

Just call us Bond. Amortized bond.

Over 700 finance terms, Shmooped to perfection.

Ex-Rights

Definition:

Without rights.

Warranties and rights are often added to bonds to lure in investors. But these rights are detachable. You can separate the rights from the bond and sell them on their own.

A bond trading "ex-rights" means that if you buy it, you don't get the warranties. They may have expired, the seller might be keeping them, or they may have already been sold to someone else. Anyway, they're gone.

It's a little like buying bonds "no batteries included."