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SOFR

It stands for secured overnight financing rate; a broad reference rate that measures the cost of borrowing money overnight collateralized...

SAN

It stands for step-down autocallable note; an autocallable note (a yield enhancement note) that is similar to an equity-linked note...

IPO

It stands for initial public offering, which refers to the issuance by a privately-held company of stock to public investors...

ARPS

An abbreviation for adjustable-rate preferred stock; a preferred stock whose dividend is reset at specified periods based, for example, on...

ADST

An abbreviation for approved deferred share trust; a trust fund that a company creates for the purpose of buying shares...

AMLF

An abbreviation for asset-backed commercial paper money market fund liquidity facility; funding that is provided at a discount rate to...

FCN

It stands for fixed-coupon note; a note that provides the investor with fixed coupon payment over the course of its...

IO

It stands for interest only; one of two components (strips or tranches) of a mortgage-backed security (MBS) or other types...

DCD

It stands for dual currency deposit; a structured product that involves two different currencies. It allows a depositor to capitalize...

VRN

It stands for variable rate note; a note on which the spread varies over time depending on the change in...