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Option-Adjusted Spread

The credit spread that is added over the spot rates (the Treasury spot rate curve, the LIBOR rate curve, etc)...

Callable Range Accrual Note

A range note (a type of structured note) that is embedded with a call option. The embedded option allows the...

CRAN

An acronym for callable range accrual note, which refers to a range note (a type of structured note) that is...

Flip-Flop Note

A note that has an embedded option that allows investors to switch between two types of securities. For instance, an...

Dilution

A decrease in the equity of a share of stock after a company issues additional shares, whether in raising more...

Asset Swap Switch

An asset swap which has an embedded option (a spread option between the substitutable assets) allowing the holder to substitute...

Structured Note

A highly rated fixed-income security that contains embedded options and doesn't necessarily reflect the risk of the issuer. In other...

Range Accrual Note

A note that pays interest only if the floating interest rate (such as LIBOR) stays within a prespecified range. This...

Reverse Convertible

A convertible that is associated with an embedded put option, giving the issuer the right to put it (i.e., sell...

Puttable Financial Instrument

A financial instrument that confers on the holder the right, without an obligation, to return (put back) the instrument to...