Floating rate note
id:
floating-rate-note-316-7432443
title:
Floating rate note
text:
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. 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%.
brand slug:
wiki
category slug:
encyclopedia
description:
Bonds that have a variable coupon
original url:
https://en.wikipedia.org/wiki/Floating_rate_note
date created:
date modified:
2024-04-16T03:30:58Z
main entity:
{"identifier":"Q1429050","url":"https://www.wikidata.org/entity/Q1429050"}
image:
fields total:
13
integrity:
14