Define: Variable-Rate Note

UK Accounting Glossary

Definition: Variable-Rate Note


Quick Summary of Variable-Rate Note


A bond, typically with a fixed maturity, of which the interest coupon is adjusted at regular intervals to reflect the prevailing market rate.



What is the dictionary definition of Variable-Rate Note?

Dictionary Definition


A Variable rate note (VRN) is a bond, typically with a fixed maturity, of which the interest coupon is adjusted at regular intervals to reflect the prevailing market rate (typically a margin over the London Inter Bank Offered Rate).

A VRN differs from a floating-rate note in that the margin is not fixed and it will be adjusted to take into account conditions of the market at each coupon setting date.


Full Definition of Variable-Rate Note




Variable-Rate Note FAQ's



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Variable-Rate Note. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. https://payrollheaven.com/define/variable-rate-note/ (accessed: July 20, 2019).
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Variable-Rate Note. PayrollHeaven.com. Retrieved July 20, 2019, from PayrollHeaven.com website: https://payrollheaven.com/define/variable-rate-note/

Definition Sources


Definitions for Variable-Rate Note are sourced/syndicated from:

  • Oxford Dictionary Of Economics
  • BusinessDictionary.com
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 5th May 2019.