Chess piece that's left as security for borrowed money (4)
I believe the answer is:
pawn
'chess piece' is the definition.
(I know that pawn is a type of chess piece)
'left as security for borrowed money' is the wordplay.
I cannot quite understand how this works, but
'money' could be 'p' and 'p' is located in the answer.
The remaining letters 'awn' is a valid word which might be clued in a way I don't see.
This may be the basis of the clue (or it may be nonsense).
'that's' is the link.
Can you help me to learn more?
(Other definitions for pawn that I've seen before include "A dupe; hock" , "Chessman often sacrificed" , "instrument" , "Lodge (item) for money" , "Chess piece -- puppet" .)