Spens clause and GPT: Difference between pages

Latest revision as of 22:19, 11 May 2024

Information technology - software - natural language processing - artificial intelligence - chatbots.

Generative Pre-trained Transformer.

An artificial intelligence language model that has been pre-trained on a large dataset of unlabelled natural language text.

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-A potentially strong form of protection for lenders/investors in securities, designed to mitigate the adverse effects of call risk for investors.
+''Information technology - software - natural language processing - artificial intelligence - chatbots.''
-Under a Spens clause the borrower/issuer has to value the cash flows beyond the date of the call/redemption at the government bond yield, or some other low rate.
+Generative Pre-trained Transformer.
-This potentially makes it prohibitively expensive for the issuer to take an early redemption.
+An artificial intelligence language model that has been pre-trained on a large dataset of unlabelled natural language text.
-For example the Bank of England's purchase scheme for corporate bonds favours bonds having a Spens clause.
-The consequence of a Spens clause for the investor is that they can re-invest the redemption monies in government stock, thus preserving their originally expected cash inflows at lower risk.
+== See also ==
+* [[Artificial intelligence]]  (AI)
+* [[Chatbot]]
+* [[ChatGPT]]
+* [[Generative pre-trained transformer]]
+* [[Google Gemini]]
+* [[GPT-4]]
+* [[Information technology]]
+* [[Large language model]]  (LLM)
+* [[Natural language]]
+* [[Natural language processing]]
+* [[Software]]
+[[Category:The_business_context]]
-== See also ==
-* [[Call protection]]
-* [[Call risk]]
-* [[Loan agreement]]
-* [[Make whole clause]]