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Range Accrual Promissory Note

A type of structured promissory note that has the potential to increase the yield (amount payable) beyond that of a standard promissory note if the price of the underlying asset remains within a predefined range (upper and lower barriers) for a specific period of time. This note allows the holder to enhance the yield based on preconceived expectations about the underlying rate performance. The amount payable can only be paid in the same currency of issue.

This promissory note is known also as a RA promissory note.


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