Floating rate notes
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System number
987007538891705171
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Information for Authority record
Name (Hebrew)
פקדונות בריבית ניידת
Name (Latin)
Floating rate notes
Name (Arabic)
سندات بسعر فائدة متغير
Other forms of name
Floaters (Securities)
Floating rate securities
Floating rate instruments
Instruments, Floating rate
Notes, Floating rate
Securities, Floating rate
See Also From tracing topical name
Securities
Variable rate loans
MARC
MARC
Other Identifiers
Wikidata:
Q1429050
Library of congress:
sh 86000772
Sources of Information
- Work cat.: Floating rate instruments ... 1986(Floating rate securities)
- BPI.
- Words bus.
- IAC.
- Downes. Dict. of finance and investment terms.
- Pesson. Words of Wall Street, 1983(Floaters, slang expression for Floating rate notes)
Wikipedia description:
Floating rate notes (FRNs) are bonds that have a variable coupon, equal to a money market reference rate, like SOFR or federal funds rate, plus a quoted spread (also known as quoted margin). The spread is a rate that remains constant. Almost all FRNs have quarterly coupons, i.e. they pay out interest every three months. At the beginning of each coupon period, the coupon is calculated by taking the fixing of the reference rate for that day and adding the spread. A typical coupon would look like 3 months USD SOFR +0.20%.
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