(1) In the Swiss context only: a fixed or variable-rate security legally classed as a bond or debenture issued as a private placement. The maturity is usually between five and seven years. Notes are inexpensive financing instruments for foreign issuers and have become a popular medium-term investment among institutional investors.

(2) In other contexts, a note is a credit instrument consisting of a written, unconditional promise to pay a sum of money at some specified future date to a named person or to bearer.