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Non-Investment Grade Bond

A bond that carries a significant amount of default risk and therefore is granted low or very low ratings by...

Term Rate

An interest rate (market benchmark or reference rate) that provides market participants (specifically, borrowers) with a specified interest rate for...

Stock Yield

The yield on a stock is its rate of return over a certain period of time. The rate of return...

Fallback Spread

In relation to the LIBOR cessation plan, it is the credit and liquidity component of LIBOR relative to risk free...

Synthetic LIBOR

A form of transitional LIBOR that is "synthetically" created in order to account for a significant number of US dollar...

Pre-Cessation Trigger

A contractual fallback that was set out in the LIBOR wording for the purpose of triggering a switch to the...

Cessation Trigger

A contractual fallback that was set out in the LIBOR wording for the purpose of triggering a switch to the...

Fixed Rate Security

A security (financial security) that carries or provides interest payment at a fixed rate. The coupon rate of a fixed...

Overnight Money Market Interest Rate

The interest rate that banks incur and pay to borrow funds from other banks in the money market overnight (interbank...

Unsecured Senior Bond

A bond that is both senior (senior bond) and unsecured. A senior bond takes priority over other classes of debt...