A chooser note (range chooser note) which allows the investor to set the range at the start of each coupon period, and the coupon accrues on a daily basis if it sticks to the range and never slips outside. For example, if the floating rate remains in range, the investor will receive LIBOR plus 100 basis points (BPs) per day accrual. Outside range no coupon will accrue.
November 24, 2024
