Drop-lock bond: Difference between revisions
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''Bond pricing.'' | ''Bond pricing.'' | ||
A bond or similar instrument which initially bears interest at a variable rate as if it were a floating rate obligation, but which will change to bear interest at a predetermined fixed rate in the event that a defined market rate falls to a stated level. | A bond or similar instrument which initially bears interest at a variable rate as if it were a floating rate obligation, but which will change to bear interest at a predetermined fixed rate in the event that a defined market rate falls to a stated level. | ||
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* [[Floating rate]] | * [[Floating rate]] | ||
* [[Market rate]] | * [[Market rate]] | ||
Revision as of 21:11, 11 August 2013
Bond pricing.
A bond or similar instrument which initially bears interest at a variable rate as if it were a floating rate obligation, but which will change to bear interest at a predetermined fixed rate in the event that a defined market rate falls to a stated level.
