Glossary entry

Spanish term or phrase:

Bono Autocancelable

English translation:

self-liquidating bond

Added to glossary by patinba
Sep 11, 2013 08:31
10 yrs ago
3 viewers *
Spanish term

Bono Autocancelable

Spanish to English Bus/Financial Finance (general)
From a list of financial instruments. The text doesn't explain what it is, just that its an attractive investment in a bull market

"Bono Autocancelable a 3 años sobre IBEX 35"

The only "self-canceling" instrument I can find is a "self-canceling installment note" but I don't think thats the same thing at all. Cant find any refs to self-canceling or self-settling (3-year) bonds
Change log

Sep 16, 2013 11:31: patinba Created KOG entry

Proposed translations

2 hrs
Selected

self-liquidating bond

What is self liquidating bond? definition and meaning
www.businessdictionary.com/.../self-liquidating-bon...
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Definition of self liquidating bond: Bond whose interest and principal is fully paid off (serviced) from the revenue generated by the project financed by the bond ...
Self-Liquidating Bond - The Free Dictionary
www.thefreedictionary.com/Self-Liquidating Bond
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self-liq·ui·dat·ing (s lf l k w -d t ng). adj. 1. Involving goods convertible into cash in a short time. Used of business transactions. 2. Producing a return equal to the ...
Peer comment(s):

neutral nweatherdon : this is what I get out of it, yes, but I expect there is related legal terminology in the jurisdiction it was issued in
2 hrs
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4 KudoZ points awarded for this answer. Comment: "Many thanks patinba, Marie-Helene and Taña"
4 hrs

Autocall bond/note OR kick-out plan

It looks as though a "bono autocancelable" is a type of structured note.


If you look at the description on this site of what they refer to as "autocalls" OR "kick-out plans", you'll see that it is the exact same product as a "bono autocancelable".

Autocall products are increasingly popular with investors, advisers and product providers and should be judged on investors’ comfort, not on missed opportunities. Autocalls, also known as kick-out plans, have captured a large part of the structured product market in recent years. Product providers use them to offer higher payoffs than other SPs that automatically run to a full term. Advisers are using them to generate double-digit returns and provide portfolio diversification. Autocalls pay out a defined return providing a predefined event takes place.


here you can get a feel for the type of product a "bono autocancelable" is:
http://www.iese.edu/research/pdfs/di-0951.pdf



If you click on the "final terms and conditions" here, you will see that under the heading of "bono autocancelable", Citibank include the English terms and conditions for "autocalls":

http://www.citibank.com/spain/consumer/spanish/inversiones/p...

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Note added at 4 hrs (2013-09-11 13:05:23 GMT)
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The link didn't stick so this is the site I mentioned by the way: http://advancequities.com/en/the-latest-news/headlines/88-he...
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