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Stepped Capped FRN

A type of capped floored FRN in which the capped coupon varies over the life of the note/ bond. An…

COBRA

It is an acronym for credit option on Brady bonds. By definition, it is an option whose underlying is the...

PVBP of a Bond

The price value of a basis point of a bond is a measure of the bond price volatility to interest…

MSCB

It stands for moving strike convrtible bond; in Japan, it is a convertible bond in which the conversion price is…

RCDS

It stands for recovery lock CDS; a credit default swap (CDS) entails the exchange of a floating recovery amount for…

LYON

An abbreviation for liquid yield option note; a form of zero-coupon convertible bond (convertible zero-coupon bond) that was introduced by Merrill…

LTLSS Tranche

A leveraged super senior tranche (LSS tranche) (a synthetic collateralized tranche) that is associated with a loss trigger. More specifically,...

DL Bond

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

ADTV

It stands for average daily trading volume; the average number of securities (e.g., shares) traded over a specific period of...

FPL

It stands for full payout lease; another term for capital lease; a lease in which a lessor finances the leased...