Jurisdiction(s):
United Kingdom

Key definition

Maturity definition

What does Maturity mean? In legal and transactional practice, “maturity” (or “maturity date”) is the point at which a financial instrument or insurance policy reaches the end of its term and final obligations fall due. - Bonds and other debt securities, and loans: at maturity the principal becomes payable and the instrument is redeemed and ceases to exist. Contracts may distinguish legal final maturity from scheduled/expected maturity. Early redemption, prepayment, call/put features, or acceleration on default can bring forward maturity. Amortising instruments repay in instalments before maturity but retain a final maturity date. - Derivatives and structured notes: maturity (often called expiry for options and...

International Debt Capital Markets Glossary: Bonds, Programmes, Clearing, Ratings and Issuance Terms for Lawyers

Published by a LexisNexis Banking & Finance expert

Practice notes

Debt Capital Markets Glossary—A

Accelerate

Acceleration of a note means declaring it immediately due and payable before its scheduled maturity when an event of default arises, and this requires notice to be given.

Agreement among managers

A contract between the managers that sets out the nature and terms of their relationship, generally based on the International Capital Market Association (icma) standard form.

Allotment

The portion of notes offered by the lead manager to the syndicate.

Allotment telex

Where no co-managers are invited to the syndicate, the lead manager handling documentation sends the other lead managers an allotment telex confirming the allocation of the notes, subject to completion of the issue.

Debt Capital Markets Glossary—B

Basis point

One hundredth of a per cent (0.01%); i.e. a rate of a stated benchmark plus 75 bps equals that benchmark rate plus 0.75%.

Bearer form

The key characteristics of bearer securities are that:

a bearer security is a negotiable instrument embodying a promise to pay the bearer any amounts due under it
title to a...

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Web page updated on 21/05/2026

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