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Step down note |
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Step down noteA floating-rate note whose interest rate declines after a specified period of time.Step down note Similar MatchesStepped fixed rate mortgageStepped fixed rate mortgageWhere the interest is, for example, fixed at one level for one year and then a slightly higher level for two further years. This is not as common as finding stepped discounted mortgages. Stepped discount mortgageStepped discount mortgageWhere the discount is, for example, fixed at one level for one year and then a slightly lesser level for two further years. Remember it is the percentage discount that is stepped and not the monetary amount, so your repayment can still vary. Stepped interest debenture stocksStepped interest debenture stocksA debenture stock where the rate of interest payable to lenders is increased in stages over the initial life until a certain rate is reached. Thereafter, the rate remains fixed until the redemption date. This type of debenture is advantageous to an investment trust in that interest payments will be lower than the norm in the initial years (whilst the trust consolidates its growth) and above the norm in the later years (when it will be expected that the trust's assets can afford the extra interest). Step up swapStep up swapAn interest rate swap on which the notional principal increases according to a predetermined schedule. Step up bondStep up bondA bond that pays a lower coupon rate for an initial period, and then increases to a higher coupon rate. Related: Deferred-interest bond, payment-in-kind bond. Further SuggestionsThree steps and a stumble ruleSeven Step Meeting Process Step up Step aside stepped preference shares Ross, Stephen |
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