exchange-traded note (ETN)

exchange-traded note (ETN) definition - business

exchange-traded note (ETN)

An unsecured debt security guaranteed by its issuer to track the value of a particular asset or index. For example, in November 2007 the New York Stock Exchange listed a Goldman Sachs-sponsored ETN that tracks a broad-based commodity index. ETNs have a maturity date but do not pay periodic interest.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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