 For example, a so-called “10/10 Clap Note” is one that is sold at a 10% discount on the face value while simultaneously paying 10% annual interest.The investor in a $100,000 10/10 clap note can buy the note at a discount of 10%, or $90,000 yet be paid 10% interest per year on the full face value of the note (i.e.$10,000).