PT  - JOURNAL ARTICLE
AU  - Joel S. Telpner
TI  - A Survey of Structured Notes
AID  - 10.3905/jsf.2004.320323
DP  - 2004 Jan 31
TA  - The Journal of Structured Finance
PG  - 6--20
VI  - 9
IP  - 4
4099  - https://pm-research.com/content/9/4/6.short
4100  - https://pm-research.com/content/9/4/6.full
AB  - Structured notes are fixed-income securities that combine derivative elements and do not necessarily reflect the risk of the issuer. The combination of derivatives and debt instruments allows parties to identify, isolate, transfer, and otherwise manipulate risk in clearly defined ways. While the evolution of the derivatives market has allowed the quantity and types of structured notes to proliferate, recent economic trends have pushed the use of structured notes more and more into the realm of Main Street investors. With structured notes, investors can implement strategies based on their views about the direction of interest rates; the range, the volatility, and the shape of long-term rates versus short-term rates; and the direction of equity and commodity markets and prices.