A 10-year bond is issued on January 1, 2010. Its contract requires that its coupon rate change over time as shown in the following table:
| Coupon Payment Date Range | Coupon Rate |
| 01/01/2010-12/31/2011 | 2.00% |
| 01/01/2012-12/31/2013 | 5.0% |
| 01/01/2014-12/31/2015 | 7.5% |
| 01/01/2016-12/31/2019 | 9.0% |
This security is best described as an example of a:
A is correct because a step-up note has contractually mandated changes in its coupon rate.