CAPLET

caplet

Noun

  1. A smooth-coated tablet shaped like a capsule, used as a tamper-resistant alternative to a capsule, or an easy-to-swallow alternative to regular tablets.

Noun (etymology 2)

  1. A component of an , a derivative instrument that effectively prevents the interest payments on an otherwise variable-rate loan from exceeding an agreed level (the "cap"). Each "caplet", analysable as a , covers one interest accrual period (such as three months); the whole interest rate cap is made up of a series of consecutive caplets.


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