Glossary Terms > VRDO's (Variable Rate Demand Obligations) > What are VRDO's?

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Floating rate obligations that have a nominal long-term maturity but have a coupon rate that is reset periodically (e.g., daily or weekly). The investor has the option to put the issue back to the trustee or tender agent at any time with specified (e.g., seven days’) notice. The put price is par plus accrued interest.

Last updated on May 14, 2009 by Jack Parsons

Sources of definitions:

FINRA website, investor words . com, US Legal definitions, MSRB website, dictionary . com, SEC website

Vickery Creek Capital Management is not responsible for the accuracy of the definitions herein; this glossary is intended to assist clients and prospective clients in better understanding financial and investment terms.  It is the responsibility of the individual to fully understand the specifics associated with investment terms that relate to their situation.