security that has a lower-priority claim on a company's assets and income than a senior security. For example common stock is junior to preferred stock.

A security that is subordinate in claims on assets and income to a senior security.

A security with a lower claim on assets in the event of a company's liquidation. Normally, common stock is most junior to all other corporate issues. Then, from junior to senior, the order is preferred stock, debentures, and mortgage bonds. This last item is a direct claim on real property and is the most senior.

Justified price Kaffirs