Indexed Currency Option Note Law and Legal Definition
An indexed currency option note refers to a note denominated and paying interest in one currency but whose redemption value is linked to an exchange rate for another currency. It is a variant of the dual currency bond with all payments in one currency but with the principal payment indexed to a currency exchange rate at maturity. When the exchange rate is less than an agreed rate, the bond holder receives the face value of the note minus an amount which increases as the exchange rate declines.
Legal Definition list
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