Definition of U.S. Treasury note

U.S. Treasury note

U.S. government debt with a maturity of one to 10 years.

Treasury notes

Debt obligations of the U.S. treasury that have maturities of more than 2 years but less than 10 years.

BAN (Bank anticipation notes)

notes issued by states and municipalities to obtain interim financing for
projects that will eventually be funded long term through the sale of a bond issue.

Demand master notes

Short-term securities that are repayable immediately upon the holder's demand.

Documented discount notes

Commercial paper backed by normal bank lines plus a letter of credit from a
bank stating that it will pay off the paper at maturity if the borrower does not. Such paper is also referred to as
LOC (letter of credit) paper.

Euro-medium term note (Euro-MTN)

A non-underwritten Euronote issued directly to the market. Euro-
MTNs are offered continuously rather than all at once as a bond issue is. Most Euro-MTN maturities are
under five years.

Euro-note

Short- to medium-term debt instrument sold in the Eurocurrency market.

Extendable notes

note the maturity of which can be extended by mutual agreement of the issuer and
investors.

Flip-flop note

note that allows investors to switch between two different types of debt.

Floating-rate note (FRN)

note whose interest payment varies with short-term interest rates.

Inverse floating rate note

A variable rate security whose coupon rate increases as a benchmark interest rate declines.

Liquid yield option note (LYON)

Zero-coupon, callable, putable, convertible bond invented by Merrill

Liquid yield option note (LYON)

Zero-coupon, callable, putable, convertible bond invented by Merrill Lynch & Co.

Medium-term note

A corporate debt instrument that is continuously offered to investors over a period of
time by an agent of the issuer. Investors can select from the following maturity bands: 9 months to 1 year,
more than 1 year to 18 months, more than 18 months to 2 years, etc., up to 30 years.

Money market notes

Publicly traded issues that may be collateralized by mortgages and MBSs.

Municipal notes

Short-term notes issued by municipalities in anticipation of tax receipts, proceeds from a
bond issue, or other revenues.

Note

Debt instruments with initial maturities greater than one year and less than 10 years.

Note agreement

A contract for privately placed debt.

Note issuance facility (NIF)

An agreement by which a syndicate of banks indicates a willingness to accept
short-term notes from borrowers and resell these notes in the Eurocurrency markets.

Notes to the financial statements

A detailed set of notes immediately following the financial statements in
an annual report that explain and expand on the information in the financial statements.

Project notes (PNs)

Project notes are issued by municipalities to finance federally sponsored programs in
urban renewal and housing and are guaranteed by the U.S. Department of Housing and Urban Development.
Project financing A form of asset-based financing in which a firm finances a discrete set of assets on a standalone
basis.
Projected benefit obligation (PBO) A measure of a pension plan's liability at the calculation date assuming
that the plan is ongoing and will not terminate in the foreseeable future. Related:accumulated benefit obligation.

Promissory note

Written promise to pay.

TANs (tax anticipation notes)

Tax anticipation notes issued by states or municipalities to finance current
operations in anticipation of future tax receipts.

Treasury bills

Debt obligations of the U.S. treasury that have maturities of one year or less. Maturities for Tbills
are usually 91 days, 182 days, or 52 weeks.

Treasury bonds

Debt obligations of the U.S. treasury that have maturities of 10 years or more.

Treasury securities

Securities issued by the U.S. Department of the treasury.

Treasury stock

Common stock that has been repurchased by the company and held in the company's treasury.

U.S. Treasury bill

U.S. government debt with a maturity of less than a year.

U.S. Treasury bond

U.S. government debt with a maturity of more than 10 years.

NOTES RECEIVABLE

notes receivable are promissory notes that the company has accepted from its debtors. Most promissory notes pay interest. Those that are due within a year are shown under “Current Assets.” Those that mature in more than a year would be listed under “Long-term Assets.” If a note is being
collected in installments, the payments due within the next twelve months are shown as a current asset, and the remainder is shown as a long-term asset.

Notes payable

Amounts owed by the company that have been formalized by a legal document called a note.

Notes receivable

Amounts owed to the company that have been formalized by a legal agreement called a note.

Treasury stock

Shares that were sold to the public but have since been repurchased by the company in the open market. treasury stock is deducted from the equity section, and is therefore a contraequity account.

Treasury bill

Short-term U.S. government security issued at a discount from
the face value and paying the face value at maturity.

Treasury bond

Long-term debt obligation of the U.S. government that makes
coupon payments semi-annually and is sold at or near par value in $1000
denominations or higher. Face value is paid at maturity.

treasury stock

Stock that has been repurchased by the company and held in its treasury.

Treasury Bill

A short-term (less than one year) government discount bond.

Promissory Note

Written promise committing the maker to pay the a specified sum of money either on demand or on some future date, with or without interest.

Treasury Bill

Short-term government security.

Expected return

The return expected on a risky asset based on a probability distribution for the possible rates
of return. Expected return equals some risk free rate (generally the prevailing U.S. treasury note or bond rate)
plus a risk premium (the difference between the historic market return, based upon a well diversified index
such as the S&P500 and historic U.S. treasury bond) multiplied by the assets beta.

Quality option

Also called the swap option, the seller's choice of deliverables in treasury Bond and treasury
note futures contract. Related: cheapest to deliver issue

Timing option

For a treasury Bond or note futures contract, the seller's choice of when in the delivery month to deliver.

money market fund

A type of mutual fund that invests primarily in short-term debt securities maturing in one year or less. These include treasury bills, bankers’ acceptances, commercial paper, discount notes and guaranteed investment certficates.

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