Capped FRN
From ACT Wiki
An issue with an upper limit on the coupon rate.
Under this type of issue, the lender forgoes the possibility of receiving a return above the cap rate should the market interest rate exceed the cap rate.
An issue with an upper limit on the coupon rate.
Under this type of issue, the lender forgoes the possibility of receiving a return above the cap rate should the market interest rate exceed the cap rate.