variable-rate note

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Variable-Rate Note

A bond with an interest rate that changes periodically. 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 variable-rate notes have maximum and minimum interest rates, known as capped notes and floored notes, respectively. A variable-rate note with both a maximum and a minimum interest rate is called a collared note. In the United States, government sponsored enterprises issue most variable-rate notes, while banks do the same in Europe. See also: Adjustable-rate mortgage.

variable-rate note

References in periodicals archive ?
The Facility consisted of a mix of fixed and variable rate notes with staggered maturities collateralized by 20 multifamily properties located in Arizona, Florida, Georgia, Tennessee and Texas.
Swiss Re Capital Markets underwrote the transaction which covers Europe windstorm losses via two classes of Principal At-Risk Variable Rate Notes issued by Calypso Capital II Limited.
The coverage provided by Long Point Re III's $250 million principal-at-risk, variable rate notes collateralize a three-year, per-occurrence reinsurance agreement to Travelers against hurricanes affecting the northeast region of the United States.
The city's GO pledge secures nearly $53 million in variable rate notes issued through the Tennessee Municipal Bond Fund (TMBF) in addition to a $50 million variable rate bank note issued by Fifth Third Bank.
has issued principal at-risk variable rate notes with a 3-year risk period, due May 9, 2016.
CHICAGO, May 15 /PRNewswire-FirstCall/ -- Aon Corporation today announced that Aon Re Global's investment banking group, Aon Capital Markets, successfully completed the private placement of $300 million of principal at-risk variable rate notes for Muteki Ltd.
DGC has devised and created bonds and variable rate notes secured by interests in SLS policies which it is marketing to institutional investors.
19 /PRNewswire-FirstCall/ -- Aon Corporation today announced that its investment banking group, Aon Capital Markets, successfully completed the private placement of $225 million of principal at-risk variable rate notes for Newton Re Limited in two separate classes of notes.
has downgraded the debt ratings to "b" from "bb-"on $100 million series 2009-1 Class A and to "ccc" from "b" on $75 million series 2009-1 Class B principal-at-risk variable rate notes (collectively, the notes) both due December 7, 2012, issued by Montana Re Ltd.
COP49,000,000,000 variable rate notes to 'BBsf' from 'BB-sf'; Outlook to Stable from Positive.
has issued US$ 70m Series 2011-1 Class A Principal At-Risk Variable Rate Notes (Class A Notes) and US$ 131.

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