Uma
asked over 3 years ago
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Important Note – Preparing for CA Final?
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lochan
answered over 3 years ago
LEVEL PAY FLOATING RATE NOTES Level Pay Floating rate notes are bonds that have a variable coupon, equal to a money market reference rate, like LIBOR or federal funds rate, plus a quoted spread . The spread is a rate that remains constant. Almost all FRNs have quarterly coupons, i.e. they pay out interest every three months. Thanks
