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Definitions of terms begining
with the same letter as "Floating-rate debt security"
:
Floating-rate debt security (See Chapter 26 of the Vernimmen)
The coupon (see coupon rate) of a floating-rate debt security is not fixed, but is indexed to the reference rate (generally a short-term rate), usually more than once a year. Investors know the actual payments they will receive for the next payment date only.
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