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  • November 5, 2022
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Wedding Cake Promissory Note

A type of structured promissory note that has multiple double no touch barriers. These barriers determine an array of possible yields (or amounts payable) ordered from top to bottom depending on the level of the barriers. If a given barrier is breached, the holder can still receive a higher yield than the yield of a deposit promissory note.

The possible yields are stacked as the layers of a wedding cake.

This promissory note is known also as a WC promissory note.


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