A floater (FRN: floating rate note) that can be called by the issuer before maturity date. In other words, It is a floater 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.
This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful.
Comments