Drop-lock
Definition, Meaning & Examples
Part of speech adjective
Quick meaning: Drop-lock is an adjective meaning (finance) Having a floating interest rate until a certain market rate is reached, at which point the interest rate becomes fixed.
Meaning
(finance) Having a floating interest rate until a certain market rate is reached, at which point the interest rate becomes fixed.
Example Sentences
a drop-lock bond
a drop-lock stock
Related Words
Related dictionary entries include bondholding, interest-bearing, lienholding, fixed-term, leaseholding, tax-deferred.
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Sources & Attribution
FreeDictionaryAPI.com / Wiktionary · Original source · CC BY-SA 4.0
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