Medium-term note (MTN) - Financial definition
Concise definition of the term medium-term note
A medium-term note is a debt security that is issued under an ongoing issuance programme and usually has a maturity comprised between 5 and 10 years.
Comprehensive definition of the term medium-term note
MTNs are mostly issued under ongoing issuance programmes, generally by corporate issuers. Their term is usually 5-10 years, but it may be less than one year or up to 100 years. It can be issued as a fixed or floating coupon security.
MTN programmes are issuance vehicles that provide frequent issuers with quick and efficient financing through notes that are very flexible in terms of size, coupon type and structure, maturity, and embedded options.