The ribossome has three sites:
first: A-site (aminoacyl)
second: P-site (peptidyl)
final: E-site (exit)
While the translation of a protein happens, the P-site holds the t-RNA, which is bonded to the growing polypeptide chain of aminoacids.
That´s why it's called a P-site, there is a bind between the peptidyl and tRNA.