A floating rate note that can be called by the issuer before maturity date. In other words, It is a floating rate note with a call option (embedded call provision) that gives the right to the issuer to redeem the note (bond) in a situation where interest rates move down, whereby negatively impacting the reference rate or required margin.
![Fincyclopedia Fincyclopedia](https://fincyclopedia.net/wp-content/uploads/2019/11/Logo-for-Web-01.png)
Comments