Glossary
Banking
Floating Rate Note (FRN)
A floating-rate note is a bond whose coupon has a variable rate. FRNs are tied to a floating rate benchmark and pay a credit spread above the benchmark rate to reflect credit risk.
Floating Rate Note (FRN)
A floating-rate note is a bond whose coupon has a variable rate. FRNs are tied to a floating rate benchmark and pay a credit spread above the benchmark rate to reflect credit risk.