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STated Rate Auction Preferred Stock (STR...
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STated Rate Auction Preferred Stock (STRAPS)
A floating rate preferred with an initial fixed dividend period of several years. After the fixed dividend period, the
issuer
resets the rate every 49 days by Dutch auction. See also
Auction Rate Preferred Stock (ARPS)
,
Dutch Auction Interest and Dividend Reset
.
Glossary
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