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Stepped Spread Floater

A floating-rate note (floater) that comes with a changing quoted margin. That means the quoted margin changes at certain intervals...

Interchangeable Bond

A bond that may be converted from coupon payment mode into registered form, or from registered form to coupon payment...

Initial Public Offering

The issuance by a privately-held company of stock to public investors for the first time, i.e. in the primary market....

Blanket Bond

An insurance instrument that protects against losses caused by employees due to dishonesty, forgery or unauthorized trading. It is blanket...

Bonus Pro Certificate

A structured product (structured certificate) that is similar to a bonus certificate, but with an additional feature: a partial-time-end barrier...

Barrier Accrual Floating Rate Note

A floating rate note (FRN) which in which interest (coupon) accrues only on days when the reference rate (floating rate)...

IPO

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

Default Sensitivity

A measure of the responsiveness (of equity value or bond loss- i.e., equity tranche or bond tranche in a portfolio)...

Omega

The default sensitivity of a tranche (to the default of a single name/ credit). It is a measure of the...

Default01

A measure of the responsiveness (of equity value or bond loss- i.e., equity tranche or bond tranche in a portfolio)...