Canary

See also: canary

English

Etymology 1

From 1907, coined by the football club's then-chairman who was a keen breeder of canaries.

Noun

Canary (plural Canaries)

1. (soccer) Someone connected with Norwich City Football Club, as a fan, player, coach etc.

Etymology 2

Based on the geography of the Canary Islands, between Bermudan and European.

Adjective

Canary (not comparable)

1. (finance, of an option) That can be exercised on quarterly dates, a set time period (usually one year) after the issue date, and before the expiry date.
   • 2005, Gary Strumeyer, chapter 9, in Investing in Fixed Income Securities: Understanding the Bond Market, John Wiley & Sons:

     Canary callable bonds are a type of step-up bond that is a hybrid structure, having elements of both Bermudan and European calls.

   • 2006, Ben Finkelstein, The Politics of Public Fund Investing: How to Modify Wall Street to Fit Main Street, Touchstone, page 123:

     The canary bond is unique in that it is callable during the period before the security converts to a noncallable or bullet structure; the canary callable coupon can possess a step-up feature.

   • 2006, Marc Henrard, Numerical integration for Canary swaptions in the gaussian HJM model, Bank for International Settlements, page 5:

     A (receiver) Canary swaption has two expiry dates 0 < θ₁ < θ₂ ≤ t₀ and involved two swaps Sⁱ (i = 1, 2) with cash -flows (t_i,j, c_i,j) (1 ≤ j ≤ n_i).

Coordinate terms

• American, Bermudan, European, Verde

See also

• Canary Islands
• Canary Wharf