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Bump-Up Certificate of Deposit

A certificate of deposit (CD) that gives the owner (holder) the right to increase (bump up) its yield one time over the tenure (term)...

Step-Down Certificate of Deposit

A certificate of deposit (CD) that provides its holder (account holder) with a high introductory rate that, later on, steps...

BEST Turbo Certificate

A turbo certificate (knock-out certificate) in which the knock-out barrier (KO barrier) is set equal to the strike price. If...

Accrual Factor

Typically, the total amount of interest that a depositor receives is calculated by multiplying the applicable floating rate (say, LIBOR) by...