An absolute return barrier note (ARBN) which is generally “continously callable”- i.e., with continuous call dates. This allows the note to be called by the issuer anytime over its life. The note can automatically mature or kick out prior to its maturity date if certain predetermined conditions have been met with regard to the performance of the underlying reference asset relative to the set barrier. The call dates may also be discrete- i.e., with prespecified intervals between a call date and its immediate next. If the note is called, the holder (investor) will receive the absolute performance of either one underlying or the lowest performing underlying in the basket subject to an upside cap and a downside barrier.
Finance
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