Participation Note
Definition
Participation Note. A tradable debt instrument issued by an entity for sale in a jurisdiction other than the one in which the entity is registered, and based on the holding by that entity of underlying securities issued in the jurisdiction in which that entity is registered
Typically P-Notes are SPVs that are created to allow participation from outside that market. The SPV purchases a security on shore and issues a note that represents that security to offshore investors. Similar to an ADR but is always a debt security. All underlying securities come from another market from the one where the PN is issued.
Disclaimer
This entry annotates a FIBO Ontology Class. FIBO is a trademark and the FIBO Ontology is copyright of the EDM Council, released under the MIT Open Source License. There is no guarantee that the content of this page will remain aligned with, or correctly interprets, the concepts covered by the FIBO ontology.
| IsDefinedBy URI of an entity that is defined via an imported vocabulary. | https://spec.edmcouncil.org/fibo/ontology/DER/DerivativesContracts/ParticipationNotes/index-en.html + |
