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| N | O | P | Q | R | S | T | U | V | W | X | Y | Z |
| Range | A return based on the underlying remaining within a fixed range. |
| Range Accrual | A range accrual product is a type of structured product in which the return is based on the number of days that the underlying price or index is within pre-set levels. The longer that the underlying stays in the range then the higher the return produced.
Typically the underlying used in an exchange rate or interest rate. |
| Ratchet option | A series of consecutive forward start options. |
| Reduced capital return | A reduced capital return occurs when less than the original investment is returned at the end of the investment term. This typically occurs when the underlying index falls over the period. |
| Registered | The note is registered with the local regulator. |
| Registered Note | A note that is registered with the local regulator. |
| Registered Note (Listed) | A note, registered with the local regulator and listed on a stock exchange. |
| Registered Note (Unlisted) | A note, registered with the local regulator but not listed on any exchange. |
| Reverse Floater | An income product offering a coupon that rises when the underlying reference rate falls. The coupon is calculated as a fixed rate minus the floating reference rate. Often a non-negative clause is added which prevents the coupon being negative. |
| Right to issue additional tranches | The issuer’s right to issue further tranches of an instrument may or may not involve the right to sell the new instruments to the investors at a preset price, with the investors obliged to take delivery (i.e. buy) the instrument. If the right is limited to an issuance privilege, the costs of issuing the instrument are merely reduced. In the latter case, the issuer actually has a put option on the instrument. |
| Rolling | This type of open-ended fund is composed of short term cash and derivative products rolling one after another, allowing for protection levels to be guaranteed at specific dates (e.g. once every quarter). Most of the investment is placed in deposits, the rest in buying options. |
| Rolling Fund | A rolling fund is the name given to a form of open-ended structured product offered in the form of a fund. The key feature of the product is that the fund price is guaranteed not to fall between set dates, usually every three months or sometimes six or twelve months apart.
A rolling fund is essentially a series of short-term growth products that reinvest any return on an ongoing basis. The main investments of the fund are cash deposits that secure the minimum return, with the balance typically being used to buy call options on one or more equity indices. Sometimes the unit price has a floor of less than 100% (usually 90% or 95%) of the price on the previous reset date. |