A medium term note (MTN) is a note with a term of between five and ten years from the time it is issued until its maturity date.
Like bonds, medium term notes pay interest in the form of coupons. Unlike bonds, which are issued either as a single issue or as a series of issues, medium term notes are issued on an ongoing basis.
In Switzerland, medium term notes are primarily issued by FINMA-registered banks and are similar to bank bonds. However, other financial services providers such as the Coop Depositenkasse also issue medium term notes.
Swiss medium term note comparison