variable-rate note

(redirected from Variable Rate Note)

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 ?
0 million Series 2009-1 Class A principal at-risk variable rate notes and "b" to the $75.
Standard & Poor's has published a BB-(sf) rating for the Class A Calypso Capital II Limited Principal At-Risk Variable Rate Notes and B+(sf) for the Class B Calypso Capital II Limited Principal At-Risk Variable Rate Notes.
has downgraded the debt ratings to "b" from "bb-"on $100 million series 2009-1 Class A and to "ccc" from "b" on $75 million series 2009-1 Class B principal-at-risk variable rate notes (collectively, the notes) both due December 7, 2012, issued by Montana Re Ltd.
The issue comprising fixed and variable rate notes will be sold via its Australian division and will be jointly led by Australia and New Zealand Banking (ASX:ANZ), Commonwealth Bank of Australia, (ASX:CBA), National Australia Bank (ASX:NAB), RBS and Westpac (ASX:WBC).
COP49,000,000,000 variable rate notes to 'BBsf' from 'BB-sf'; Outlook to Stable from Positive.
has issued US$ 70m Series 2011-1 Class A Principal At-Risk Variable Rate Notes (Class A Notes) and US$ 131.
has placed under review with negative implications the debt ratings of "bb-"on $100 million Series 2009-1 Class A and "b" on $75 million Series 2009-1 Class B principal-at-risk variable rate notes (collectively, the notes) due December 7, 2012, issued by Montana Re Ltd.
has placed under review with developing implications the debt rating of "bb+" on $200 million Series 2008-1 Class A principal at-risk variable rate notes (the notes) due August 5, 2011, issued by Topiary Capital Limited (the issuer) (Grand Cayman, Cayman Islands).
Topiary Capital Limited--"bb+" on $200 million Series 2008-1 Class A Principal-at-Risk Variable Rate Notes due August 5, 2011 sponsored by Platinum Underwriters Bermuda Ltd.
Debt profiles are favorable although the town is exposed to an above average level of risk associated with unhedged variable rate notes.
has downgraded the debt rating to "d" from "c" on the $150 million Series 2008-1, Class A Principal At-Risk Variable Rate Notes (the notes) issued by Newton Re Limited (Cayman Islands).

Full browser ?