( FRN)
A bond which pays a floating rate of interest. The rate of interest payable on the bond will be reset at regular intervals, for example, each three months or six months. Dresdner Kleinwort Wasserstein financial glossary
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floating rate note \ \ \The following entry, flog, has been deleted. SB20060821 \\ floating rate note ➔ note1
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► See FRN.
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floating rate note UK US noun [C] (ABBREVIATION FRN, also INFORMAL floater) FINANCE
► a bond that pays different amounts of interest at different times, depending on the rate that exists on the date the payment is made: »
The country has pledged to issue five-year floating rate notes to help pay back part of the emergency loan.
Financial and business terms. 2012.