collateralized debt obligation

from The American Heritage® Dictionary of the English Language, 5th Edition.

• noun A financial security collateralized by a portfolio of bonds, loans, or swaps of different maturities and credit quality and issued in tranches representing the order in which losses from the portfolio are distributed.

from Wiktionary, Creative Commons Attribution/Share-Alike License.

• noun finance a type of asset-backed security and structured credit product constructed from a portfolio of fixed-income assets.