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SURF

It stands for step-up recovery floating-rate note; a floating-rate note (floater or FRN) that typically pays 50% of a Constant-...

Step-Up Recovery FRN

A floating-rate note/ floater (FRN) that typically pays 50% of a Constant- Maturity Treasury (CMS) rate plus a specific spread...

Step-Up Recovery Floater

A floating-rate note/ floater (FRN) that typically pays 50% of a Constant- Maturity Treasury (CMS) rate plus a specific spread...

Callable Spread Option

A spread option (an interest rate derivative) that pays a coupon based on the differential between the CMS rate over...

Step-Up Recovery Floating Rate Note

A floating-rate note (FRN) that typically pays 50% of a Constant- Maturity Treasury (CMS) rate plus a specific spread and under which a floor...