Structured Note
1. A synthetic medium-term debt obligation with embedded components and characteristics that adjust the risk/return profile of the security.
2. An instrument whose value is determined by the price movement of the asset underlying the note. It allows investors to realize a profit from favorable price movements.
Investopedia Commentary
A structured note is a hybrid security that attempts to change its profile by including additional modifying structures. A simple example would be a 5 year bond tied together with an option contract for increasing the returns.
See also: Bond, Hybrid Security, Medium Term, Synthetic
structured note