from The American Heritage® Dictionary of the English Language, 4th Edition

  • n. A smooth, coated, oval-shaped medicine tablet intended to be tamper-resistant.

from Wiktionary, Creative Commons Attribution/Share-Alike License

  • n. A smooth-coated tablet (pill, as in medicine) shaped like a capsule, used as a tamper-resistant alternative to a capsule, or an easy-to-swallow alternative to regular tablets.
  • n. A component of an interest 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 a call option, covers one interest accrual period (such as three months); the whole interest rate cap is made up of a series of consecutive caplets.


cap(sule) + (tab)let.
(American Heritage® Dictionary of the English Language, Fourth Edition)
Blend of capsule and tablet (Wiktionary)
cap (“upper limit or ceiling”) +‎ -let (diminutive suffix) (Wiktionary)



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