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NFT

It stands for non-fungible token; a type of cryptographic asset whose ownership is established by a unique digital certificate held...

SUN

It stands for super upside note; a structured equity-linked note which is designed to allow investors to fully leverage a...

Notional IO

An interest-only bond (tranche) that receives the excess interest (difference between the coupon rate on the underlying tranches and the...

ARBN

It stands for absolute return barrier note; a barrier note that pays the holder (investor), at maturity, the absolute performance...

Arbitrage CDO

A securitized product (a type of collateralized debt obligations – CDOs) that originates obligations collateralized or backed by a pool...

SUPER

It stands for structured upward participating equity receipt; a structured equity-linked note (ELN) that is created by combining a zero-coupon...

OADV01

It stands for option-adjusted DV01. With respect to bonds, it is the bond dollar value of one basis point (0.01%)...

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...

BA

It stands for borrower arbitrage; a type of one-way arbitrage which capitalizes on violations to the law of one price...