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Drop lock

• An arrangement whereby the interest rate on a floating rate note or preferred stock becomes fixed if it falls to a specified level.

 
 Embedded terms in definition
 Floating rate note
Floating rate
Interest rate
Interest
Note
Preferred stock
Stock
 
 Related Terms
 Lock out
Lock up cds
Rate lock

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Am I not destroying my enemies when I make friends of them? - Abraham Lincoln (1809-1865)

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