A structured product (floored floating rate note) in which a minimum level of coupon depends on a specific floor rate or is linked to a leveraged short term rate (e.g., LIBOR): the rate is multiplied by a leverage factor. For example, the product may provide its holder with a leveraged minimum coupon of:

Min. 2.5% or 1.5 LIBOR%

The leverage factor is 1.5.

This floating rate note gives issuers an improved floor rate, i.e., better (in this sense, lower) than those usually available in the market.