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Floating Rate Note

A medium to long-term debt obligation (note) that has its coupon rate linked to some reference interest rate (specifically a...

Yield Curve

A graph that plots the relationship between yield to maturity (YTM) and maturity for a set of similar bonds (or...

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...

Step-Up Recovery Floater

A floating-rate note/ floater (FRN) that typically pays 50% of a Constant- Maturity Treasury (CMS) rate plus a specific spread...

Par Rate

The coupon rate at which the price of a bond (or a note, etc.) is made to equal its nominal...

Par Yield

The coupon rate at which the price of a bond (or a note, etc.) is made to equal its nominal...

Turbo Trigger

A structural feature that gives protection to senior bondholders (noteholders) against a deterioration of credit support. It applies a host...

YTM

It stands for yield-to-maturity; the percentage annual rate of return (discounted) which is paid on a fixed-income security (such as...

Yield-To-Maturity

The percentage annual rate of return (discounted) which is paid on a fixed-income security (such as a bond, note, gilt,...