Credit-linked note (CLN) - Financial definition
Concise definition of the term credit-linked note
A Credit linked note (CLN) is a structured note that combines a debt asset and a credit derivative. It is a security typically issued from a Special Purpose Vehicle (SPV), with redemption and/or coupon payments linked to the occurrence of a credit event.
Comprehensive definition of the term credit-linked note
Credit-linked notes may also be issued on an unsecured basis directly by a corporation or financial institution.