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Dual Currency Bond
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Generically, a fixed income instrument which pays a coupon in a base currency (usually the currency of the investor) and the principal in a non-base currency (typically the currency of the issuer). This generic structure is subject to many variations. Also called Adjustable Long-term Puttable Securities (ALPS). See also Alternative Currency Option, Foreign Currency Bond, Foreign Interest Payment Security (FIPS), Indexed Currency Option Notes (ICONs), Principal Exchange Rate-Linked Securities (PERLS), Reverse Dual Currency Bond, Variable Redemption Bonds.
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