tranche

Senior tranches of the structured product offered 6% yield with priority claim on repayments.该结构化产品的优先层提供 6% 的收益率，并对还款享有优先受偿权。

Investors choose tranches based on their risk appetite—senior for capital preservation, junior for higher potential yield.投资者根据自身的风险偏好选择分层——优先层用于资本保值，劣后层用于追求更高潜在收益。