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Exchangeable Variable Rate Note

A variable rate note (floating rate note) that pays a floating coupon after a predetermined date; before this date the…

Stripping

A structuring technique which involves the purchase of ordinary bonds (usually, U.S. Treasury bonds) and the repackaging thereof in a…

EVRN

It stands for exchangeable variable rate note; a variable rate note (floating rate note) that pays a floating coupon after…

Autocallable Bond

A structured fixed-income security (bond) that allows the holder an early redemption if a predefined event (early redemption event, or…

ACYN

It stands for auto-callable yield note; a structured note in which the coupon is linked to more than one underlying...

BCLN

A credit linked note (CLN) in which the underlying is a portfolio or basket subject to credit risk. In other…

Callable Barrier Reverse Convertible

A variant of barrier reverse convertible (BRC)- a structured product– that pays a guaranteed coupon over the specified term or…

Short Coupon

An interest payment (coupon) that covers a shorter period than the other coupons on a bond. For example, in a…

Step-Up Security

A hybrid debt instrument (having the geatures of both debt and equity) that pays a fixed coupon or a specific…

Callable PRDC Note

A power reverse dual currency note (PRDC note) that gives the issuer (a bank, for example) the right to call…