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index amortizing note (IANs)
a note that repays principal over a period of time that lengthens or shortens according to an amortization schedule linked to a specific index, usually LIBOR. As interest rates increase, the IAN's maturity extends longer, an effect similar to what happens to a collateralized mortgage obligation when prepayment rates decrease. An IAN is a type of structured note.
Source : U.S. Department of the Treasury
Language : English