A smooth-coatedtablet(pill, as in medicine) shaped like acapsule, used as atamper-resistant alternative to a capsule, or an easy-to-swallow alternative to regular tablets.
(finance) A component of aninterest rate cap, a derivative instrument that effectively prevents the interest payments on an otherwise variable-rate loan from exceeding an agreed level (the "cap"). Each "caplet", analysable as acall option, covers one interest accrual period (such as three months); the whole interest rate cap is made up of a series of consecutive caplets.
Interest rate cap and floor on Wikipedia.Wikipedia