Bermudan

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English

Pronunciation

Etymology 1

From Bermuda +‎ -an.

Alternative forms

Noun

Bermudan (plural Bermudans)

  1. A person from Bermuda or of Bermudian descent.

Adjective

Bermudan (not comparable)

  1. Of, from, or pertaining to Bermuda, or the Bermudian peoples.
Usage notes
  • The term Bermudian is preferred by the inhabitants of Bermuda.

Etymology 2

Based on the geography of Bermuda, being somewhat European and somewhat American, but closer to American.

Adjective

Bermudan (not comparable)

  1. (finance, of an option) That can be exercised on specific dates between the issue date and the expiry date.
    • 2005, Justin London, Modeling Derivatives in C++, John Wiley & Sons, page 710:
      This chapter focuses on the pricing of various exotic interest rate derivatives including Bermudan swaptions, constant maturity swaps, trigger swaps, index amortizing swaps, and quantos.
    • 2006, Business Knowledge for IT in Investment Banking: A complete handbook for IT Professionals (UK Edition), Essvale Corporation Limited, page 13:
      A Bermudan callable has several call dates, usually coinciding with coupon dates.
    • 2009, Shih-Feng Huang, Meihui Guo, Applied Quantitative Finance (Second Edition), Springer, page 295:
      Multi-dimensional option pricing becomes an important topic in financial markets (Franker et al., 2008). Among which, the American-type derivative (e.g. the Bermudan option) pricing is a challenging problem.
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