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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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If you once forfeit the confidence of your fellow citizens, you can never regain their respect and esteem. You may fool all of the people some of the time; you can even fool some of the people all the time; but you can't fool all of the people all of the time. - Abraham Lincoln

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