It stands for pass-through pool; a pool of collateral (underlying assets) which is created and held by a trustee holding...
It stands for callable pass-through certificate; a mortgage security (mortgage-backed security) that is created by splitting a pass-through into two...
It stands for auto-callable yield note; a structured note in which the coupon is linked to more than one underlying...
A credit linked note (CLN) in which the underlying is a portfolio or basket subject to credit risk. In other…
It stands for mortgage passthrough security; a security (a mortgage-backed security, MBS) that is created from pooling mortgages (mortgage loans,...
A floating-rate note (FRN) that grants issuers and investors the right to convert from a floating rate of interest to…
A floater that involves a short position in a strip of caps over the life of collateralized motgage obligation (CMO)…
It stands for first-loss piece or first-loss position; a tranche that comes with the lowest priority amongst the entire set...
A perpetual FRN which contains a call option given to the issuer. However, if the issuer doesn’t exercise this option…
It stands for drop-lock note; a floating rate note that converts into a fixed coupon obligation when a reference interest…