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Step-Up Callable Note

A callable note (and a type of callable instruments) whose coupon rate is increased (i.e., “stepped up”) at specific points...

Callable Fixed-Rate Note

A callable note that pays a fixed rate coupon for its entire tenor. It allows the issuer to early terminate (premature or early termination)...

Adjusted Duration

Another term for modified duration; a tool that is used to measure the change in the value of a financial...

P-Note

It stands for participatory note; a note that is used by investors to gain exposure (participation in the upside) to...

Participatory Note

A note that is used by investors to gain exposure (participation in the upside) to an equity investment, such as...

Linked Note

A structured note that guarantees capital (hence the name: capital protection note). This note (which is also known as a...

Return Note

A structured note that guarantees capital (hence the name: capital protection note). This note (which is also known as a...

Non-Principal Protected Autocallable Equity Linked Structured Product

An equity-linked structured product that allows the investor to potentially profit from the underlying stock performance. To that end, the investor can...

FX Target Redemption Note

A long-dated FX product which allows counterparties to link to floating-rate benchmarks in the funding currency. This target redemption note (TARN), as the...

Implied Price TED

The difference between a hypothetical note's yield and the Treasury note's actual yield. The hypothetical note's yield is the full price...