hybrid instrument

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A single financial security that combines two or more different financial instruments. Hybrid securities, often referred to as “hybrids,” generally combine both debt and equity characteristics. The most common type of hybrid security is a convertible bond that has features of an ordinary bond but is heavily influenced by the price movements of the stock into which it is convertible.
(source: http://www.investopedia.com/terms/h/hybridsecurity.asp)

Synonyms:
structured product
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