What does Un mean, please?

[The_Investor]

Hi,

I've seen some stocks with "Un" next to them.

My understanding is that it means Units, but exactly would say Bank of America Un mean? What are Units in this context?

Thanks!

[rffrydr]

Those (and that one) are generally Master Limited Partnerships which is a special piece of british finance wizardry whose general purpose seems to be tax pass-through (and "qualifying" dividends) and complex layerings of "ownership." Some exist only to serve other entities or family interests; most seem to focus on small shipping or hard-asset ventures. I had a tiny piece of EROC last year to play the MT natural gas move. Made money--and was one of the most underhanded dirty little shell game I was ever engaged. And come tax time--lots of extra paperwork. The high-yield crowd from subprime days are all over them and retirees as well.

BAC has it's "units" that are just right-offering common that not only haven't been issued but not even "voted" on.
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[The_Investor]

Here is one. It ends with Common Units. What are Common Units?

Thanks
http://finance.yahoo.com/q?s=WPZ

[nodoodahs]

Seen ... where? In what context? What application or website?
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