Definition of exchange-traded notes

A form of unsecured, unsubordinated debt, exchange-traded notes (ETNs) are issued by an underwriting bank and are backed by the credit of the issuer.

ETNs, which have a maturity date, are traded on an exchange and linked to the performance of an index. ETNs are designed to give investors a vehicle that combines elements of both bonds and exchange traded funds (ETFs). [1]

FT Articles & Analysis

No articles are associated with this term