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{{Wikify|date=August 2010}}
An '''[[interest rate]]-linked note or deposit''' is structured to pay one of two coupons linked to an event defined by a range and a reference period:
# A higher coupon if the indexed rate stays within a certain range during a reference period;
# A lower coupon or zero if the indexed rate is outside that range during the same reference period
Because of the rate range and the higher interest accretion when rates are within that range, these notes are sometimes also referred as Range Accrual Notes.
