ɐ pˈɪk, ɔːɹ pˈeɪmənt ɪn kˈaɪnd, ɪz ɐ tˈaɪp ʌv hˈaɪɹˈɪsk lˈoʊn ɔːɹ bˈɑːnd ðæt ɐlˈaʊz bˈɑːɹoʊɚz tə pˈeɪ ˈɪntɹɛst wɪð ɐdˈɪʃənəl dˈɛt, ɹˈæðɚ ðɐn kˈæʃ.
A PIK, or payment in kind, is a type of high-risk loan or bond that allows borrowers to pay interest with additional debt, rather than cash.