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Banking

Heaven-and-Hell Bond

An index-linked product (an index-linked note or bond) that is denominated and interest-payable in one currency whilst its redemption value...

Power Reverse Dual Currency Note

A long-dated FX product that aims to enhance yield for yen investors (those with yen-denominated investments). The note is based...

Trigger Power Reverse Dual Currency Note

A power reverse dual currency note (PRDC note) that has a knock-out feature, i.e., a discrete trigger whereby the structure...

FX Target Accrual Redemption Note

A target accrual redemption note (TARN) (basically, a long-dated FX product) which allows counterparties to link to floating-rate benchmarks in...

Floater

Also floating rate note (FRN). It is a note bearing a variable interest rate which is usually readjusted every six...

At Par

Trading a debt security like a bond/ note at a price equal to its par value (face value). Face value/...

Below Par

Trading a debt security like a bond/ note at a price lower than its par value (face value). Face value/...

At-a-Discount

Trading a debt security like a bond/ note at a price lower than its par value (face value). Face value/...

At-a-Premium

Trading a debt security like a bond/ note at a price exceeding its par value (face value). Face value/ par...

Above Par

Trading a debt security like a bond/ note at a price exceeding its par value (face value). Face value/ par...