Drop-lock bond: Difference between revisions
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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. | ||
== See also == | == See also == | ||
Revision as of 13:26, 6 May 2016
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.
