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flip-flop FRN


'flip-flop FRN' can also refer to...

 

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Quick Reference

1 A term in a financial instrument that allows the holder to change between sets of payments and obligations.

2 A perpetual floating-rate note (i.e. one without redemption), which can be converted into a short-term note of up to four years' maturity and back again into a perpetual FRN.

Subjects: Financial Institutions and Services.


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