Does the phrase "Term Sheet" only apply to credit derivatives? Does it apply to fixed income or equity instruments as well?

The term is loosely used. It can be applied to pretty much anything. Anything that goes OTC usually has a term sheet.Equity issuance and bond issuance also have term sheets.Regards.

Which derivatives have term sheets?What about interest rate or fixed income derivatives, which have term sheets? Thanks

Dude... what part of "Anything that goes OTC usually has a term sheet" did you not understand?

tanwengkit, be carful, some term sheets are additionally "indicative". very nasty those!

"Term sheet" is a very general term, as FDAXHunter said. Any contract can have a term sheet, it's just a readable summary of those contract terms that are most important to the actual parties, without all the legal details and contingencies. For example, a term sheet for a billion dollar private placement with 2,000 pages of legal documentation might be:Borrower: ABC Inc.Lender: XYX Insurance Co.Loan Amount: $1 billionInterest Rate: 5% paid quarterly in arrearsMaturity: March 1, 2008, bulletOther: UnsecuredTerm sheets are not limited to derivatives or even to finance. Any contract can have one.With derivatives, you use a term sheet for any non-standardized product. It has everything necessary to price and trade the contract in a readable form. The actual deal documentation will refer to complicated master agreements that can run to hundreds of pages.