It stands for mortgage passthrough security; a security (a mortgage-backed security, MBS) that is created from pooling mortgages (mortgage loans,...

A floating-rate note (FRN) that grants issuers and investors the right to convert from a floating rate of interest to…

A floater that involves a short position in a strip of caps over the life of collateralized motgage obligation (CMO)…

It stands for first-loss piece or first-loss position; a tranche that comes with the lowest priority amongst the entire set...

It stands for constant maturity Bermudan swaption; a Bermudan swaption in which the option (on the underlying swap) can be…

A perpetual FRN which contains a call option given to the issuer. However, if the issuer doesn’t exercise this option…

A callable range accrual note (RAN); a range note that is imbedded with a call option. The embedded option allows…

The process of breaking up a convertible bond (CB) into two structured products: an asset swap (credit component) and a…

It stands for cross index basis swap; a swap to whose underlying interest rate index (usually LIBOR) the so-called quantization…

It stands for drop-lock note; a floating rate note that converts into a fixed coupon obligation when a reference interest…