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Reverse Floater

A floater (floating-rate note) in which the coupon moves inversely to the movement of the reference rate. That is, if...

Superfloater

A debt instrument (such as a bond, note, etc) in which the coupon rate depends on some multiple of the...

Super Sinker

A mortgage debt instrument that features long-term coupons but with short maturity. Typically, super sinkers are housing bonds (single-family housing...

SUN

It stands for super upside note; a structured equity-linked note which is designed to allow investors to fully leverage a...

Super Upside Note

A structured equity-linked note which is designed to allow investors to fully leverage a bullish view on a specific equity...

Super Poison Put

A covenant in a bond issue that allows a bondholder to sell, or put, a bond back to the issuer...

Above-Water Asset

An asset whose market value exceeds its book value. In other words, assets such as bonds, CDOs, mortgages, are said...

Notional Interest Only

An interest-only bond (tranche) that receives the excess interest (difference between the coupon rate on the underlying tranches and the...

Notional IO

An interest-only bond (tranche) that receives the excess interest (difference between the coupon rate on the underlying tranches and the...

Notional Bond

A standardized bond (in terms of its coupon and maturity) that is used as the basis for bond futures contracts....