Spreadlock
An agreement that fixes the spread between the forward price of an interest rate swap and its underlying government bond yield.

Investopedia Says:
The spreadlock allows a future user of an interest rate swap to take advantage of the current spread between the swap rate and the bond rate. This is achieved by transferring the current savings in basis points to a date in the future, when they will enter the interest rate swap.

Related Terms:
Basis Point
Exotic Option
Forward Price
Interest Rate Swap
Spread

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