Topical Terminology > Accrual Note
1 Definition
Accrual Note
For Accrual Note we have a term and definition in Derivatives.
Accrual Note (Derivatives) 
A note that accrues daily interest only when the index rate (e.g., LIBOR) falls within some range (such as under 6.5%). A Fixed (Floating) Rate Accrual Note accrues interest that is a spread over the corresponding ordinary Fixed (Floating) Note. The spread compensates for the probability that the note will accrue no interest over some day.
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