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You can set up and work with steps bonds when you use Eagle Accounting. Step bonds, also known as Step Coupon Bonds, Step Up Bonds, or Step Down Bonds, are securities with a predefined variable rate schedule.

Step Bonds behave in a manner similar to variable rate bonds with the exception of having a predefined variable rate schedule. As a result, all known cash flows are projected in order to calculate the Adjusted Issue Price. In contrast, a variable rate security only uses the coupon at issuance because future rates are not known.