A medium-term, subordinated, unsecured debt obligation usually issued by a multinational corporation. Retail notes can be purchased directly from the issuer at par in $1,000 increments with no accrued interest or added markups. They will usually pay a fixed interest rate for nine months or more (after that, the rate may vary). Retail notes may be callable and can be redeemed at the option of the issuer or holder. Most retail notes also feature a survivor's option. 

Also known as "retail bonds". 



|||Retail notes may qualify for tax-deferred status on their own. They are also eligible IRA investments. In addition to purchasing them from the issuer, you can also purchase them from a financial intermediary such as a broker.