credit-linked note
Word Rarity
Uncommon
Frequency: Zipf frequency 4.32 in modern English
24
Scrabble Score
16
Letters
3
Syllables
10
Unique Chars
Meaning
noun
A form of funded credit derivative, structured as a security with an embedded credit default swap allowing the issuer to transfer a specific credit risk to credit investors. The issuer is not obligated to repay the debt if a specified event occurs, which eliminates a third-party insurance provider.