floorlet
The English word “floorlet” has 1 meaning listed here.
noun
- A component of an interest rate floor, a derivative instrument that effectively prevents the interest payments on an otherwise variable-rate loan from falling below an agreed level (the "floor"). Each floorlet, analysable as a put option, covers one interest accrual period (such as three months); the whole interest rate floor is made up of a series of consecutive floorlets.
Etymology
From floor + -let.
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