LIBOR Range Note

A LIBOR range note is a medium term note with a coupon rate which changes based on developments in the London Interbank Offered Rate.

Example: A rate-linked note based on the LIBOR may pay out a 5% coupon annually as long as the LIBOR remains between 1% and 2%, and a 3% coupon if the LIBOR fell below 1%.

More on this topic:
Swiss medium term note comparison

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