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Zombie Bond

A highly speculative bond whose company has little or no chance of survival, and as such is mistaken for dead....

Step-Up Coupon Note

A debt instrument (note) which comes with a step-up coupon; the amount of its coupon increases over time to maturity....

Zero-Coupon Instrument

A debt instrument that promises investors (holders/ buyers) a single fixed payment on a preset future date. In other words,...

Nominal Gearing

The price of the underlying of a warrant divided by the price of the warrant. More specifically, it is the...

Nominal Yield

The rate which is earned on a bond purchased at a price equal to par value, and is paid by...

Coupon

The regular amount of interest payment that is made to bondholders during the lifetime of a bond (or a similar...

Coupon Rate

The rate which is earned on a bond purchased at a price equal to par value, and is paid by...

Nominal Interest Rate

The interest rate that is expressed and shown as a percentage interest on the "face" of a bond or a...

Face Interest Rate

The interest rate that is expressed and shown as a percentage interest on the "face" of a bond or a...

SURF

It stands for step-up recovery floating-rate note; a floating-rate note (floater or FRN) that typically pays 50% of a Constant-...