drop lock

noun
: the spot on the locking surface of a timepiece pallet upon which the escape tooth first makes contact after drop

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drop lock or dropˈlock loan noun (finance)
A bank loan for which interest rates vary with the market, but if the long-term interest rates fall to a specified level it is converted to a fixed-rate long-term bond
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Main Entry:drop

Useful english dictionary. 2012.

Look at other dictionaries:

  • drop-lock — ˈdrop lock noun [countable] FINANCE a bond or loan with an interest rate that changes but does not go below an agreed level …   Financial and business terms

  • Drop lock — An arrangement whereby the interest rate on a floating rate note or preferred stock becomes fixed if it falls to a specified level. The New York Times Financial Glossary * * * drop lock UK US noun [C] FINANCE ► an arrangement in which a loan with …   Financial and business terms

  • drop lock — The fixing of the interest rate on a floating rate note or preferred stock if it falls to a specified level. Bloomberg Financial Dictionary * * * drop lock UK US noun [C] FINANCE ► an arrangement in which a loan with a changing interest rate will …   Financial and business terms

  • Drop Lock — An arrangement whereby the interest rate on a floating rate note or preferred stock becomes fixed if it falls to a specified level. If a country had a floating exchange rate and a currency that suddenly dropped, the drop lock would fix the… …   Investment dictionary

  • drop lock — A bond initially issued with a variable rate of interest that becomes a fixed rate bond if the index or rate falls below a predetermined trigger level …   Accounting dictionary

  • drop lock — A bond initially issued with a variable rate of interest which becomes a fixed rate bond if the index or rate falls below a trigger at a coupon reset date …   Big dictionary of business and management

  • drop lock — Fin the automatic conversion of a debt instrument with a floating rate to one with a fixed rate when interest rates fall to an agreed percentage …   The ultimate business dictionary

  • Drop-Lock Floating Rate Notes — ⇡ Floating Rate Notes mit einer Festverzinsung im Fall im Voraus vereinbarter Umstände, z.B. Erreichung einer Mindestverzinsung …   Lexikon der Economics

  • Lock (water transport) — Canal lock and lock keeper s cottage on the Aylesbury Arm of the Grand Union Canal at Marsworth in Hertfordshire, England …   Wikipedia

  • Lock, Shock, and Barrel — are fictional characters in the animated movie The Nightmare Before Christmas . Introduced as Oogie Boogie s not so loyal little henchmen (possibly against their will), all three are trick or treaters, with faces similar to their masks (e.g.… …   Wikipedia

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