A type of loan in which the interest rate is reset either daily, weekly, monthly, quarterly, or semi-annually.
A bond that makes periodic coupon payments linked to a variable interest rate index. The bond usually pays an additional "spread" that is intended to bring the price of the bond to (or close to) par on the issue date of the bond.
Note whose interest payment varies with short-term interest rates.
Also known as Floater or Variable-Rate Note, FRN has variable coupon rates, periodically changed according to the rise and fall of a certain interest rate index or a specific fixed income security which is used as a benchmark. Also known as a "floater".
Long-term debt securities whose interest rates are adjusted periodically in line with a benchmark rate.