FRN


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FRN

Floating-Rate Note

A bond with a variable interest rate. These bonds typically have coupons renewable every three months and pay according to a set calculation. For example, a note may have an interest rate of "EURIBOR + 1%" and pay whatever the EURIBOR rate happens to be at the time plus 1%. Some FRNs have maximum and minimum interest rates, known as capped FRNs and floored FRNs, respectively. An FRN with both a maximum and a minimum interest rate is called a collared FRN. In the United States, government sponsored enterprises issue most FRNs while banks do the same in Europe. See also: Adjustable-rate mortgage.
References in periodicals archive ?
Lauren was extremely creative both in the way she earned her rewards and the way she showcased her experience with the FRN program," said Jim Perkins, North American Marketing Alliance Manager at Shell.
Our goal for the FRN program from day one has been to save people a lot of money and help them do so as easily as possible.
Each week Shell will select a weekly prize winner to receive a $250 Shell and FRN Gift Card.
This is just the next step for the FRN program," said Brandon Logsdon, President and COO of Excentus.
We recognize that consumers are looking for ways to save and we are proud to continue to evolve the FRN program to not just meet this need but help consumers see a real difference when they fill up," said Dickson Perry, Founder, Chairman and CEO of Excentus, provider of the Fuel Rewards Network program.
The FRN National team is currently working with students at approximately 150 campuses to start new chapters.
Total UT PUF debt to be outstanding, after the $100 million FRN issuance, will be $1.
Brother and sister Ceridwen Alaw Edwards and Gruffudd Beinion Edwards, both 10, with Phil from Welsh band Gwibdaith hen Frn to help launch the new Snowdonia National Park T-shirts Picture: ROBERT PARRY JONES rj030809bala-28
Be arall welais i oedd y frn goesgoch (Pyrrhocorax pyrrhocorax; 'chough' yn Saesneg).
FRN Members in New York can take as much as one, two, three dollars or more off per gallon on their fuel purchases just by using the FRN program, with FRN Members saving on average 28Ao per gallon on their purchases of all grades of Shell Nitrogen Enriched Gasolines.
Yn ogystal Sibrydion, bydd Drymbago, Meinir Gwilym, Gai Toms (uchod) a Gwibdaith Hen Frn yn perfformio, felly mae'n argoeli i fod yn ddiwrnod gwerth chweil i'r teulu.
FRN Members in Seattle can take as much as one, two, three dollars or more off per gallon on their fuel purchases just by using the FRN program, with FRN Members saving on average 28Ao per gallon on their purchases of all grades of Shell Nitrogen Enriched Gasolines.