"Locked in" is a phrase that describes a situation where the investor can’t exit a position because of the regulations, taxes or penalties associated with the exiting process.

 

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Interest rate floor is a previously agreed rate in the lower range of rates associated with a floating rate loan product.

 

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Fixed income is a type of investment that pays investors fixed interest payments until its maturity date arrives and when the date comes, investors are paid the principal amount they initially invested.

 

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Living wage refers to a wage level which allows one afford adequate shelter, food and the other necessities for living.

 

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Lock limit is a specific price movement set by trading exchanges that if breached can result in a trading halt of the instrument beyond the lock limit price.

 

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Previous close is asset’s previous closing price. It almost always refers to the final price of a security a day before the current one.

 

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