How is frn coupon calculated?

The coupon of a Fixed Rate Note (FRN) is typically calculated based on a fixed percentage of the face value of the note, which is paid to the bondholder at regular intervals, usually semiannually or annually. The coupon rate is determined at the time of issuance and reflects prevailing market interest rates, the issuer's credit quality, and other economic factors. For example, if an FRN has a face value of $1,000 and a coupon rate of 5%, the annual coupon payment would be $50.