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 ?
The General Commandment of the National Guards wanted "to gather all informational material in order write a comprehensive report on the events that took place from June 26th to July 3rd in the territories of Bessarabia and Bukovina" (SANIC, Fund FRN, file no.
To better tap into, then define, these powerful elements of customer expectation and experience, FRN leaders hired Diane Schmalensee--a former Malcolm Bald ridge Quality Award examiner--to outline FRN's quality-improvement effort, starting with research.
The FRN carries a coupon of 50 basis points over three-month Euribor.
Am y tro cyntaf erioed mae'r cwmni theatr Cwmni'r Frn Wen yn mentro i fyd 3D gyda'r sioe Dividefaid, sydd yn dechrau ar daith o Wynedd, Mn a Chonwy heno, ac yn gorffen ar 9 Rhagfyr.
Fuel Rewards([R]) savings from the FRN program can be earned across a diverse network of participating retailers, Shell stations, restaurants, grocers and online merchants giving consumers unmatched options on when, where and how they earn rewards.
This FRN amounts to SEK400m, with maturity on 19 December 2019.
The FRN, which matures on 27 March 2017, carries a coupon of 38 basis points over three-month Libor.
Global Banking News-January 9, 2012--SBAB Bank plans FRN issuance(C)2012 ENPublishing - http://www.
AN X-factor style search is on for North Wales' very own Woody Allen or George Lucas as Welsh theatre company Cwmni'r Frn Wen launches a new production and scripting project for young people.
Currently available in more than 50 markets including Miami and San Francisco, the FRN program will be rolling into numerous additional cities each month.
Framstllning av tryckfiler innebr att ta emot bestllningar och framstlla tryckfiler frn frlaga och anpassa boken den till punktskriftslsaren.
The FRN, which matures on 21 March 2016, carries a coupon of 67 basis points above three-month Libor.