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November 27, 2021
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December 1, 2021

A commodity swap in which the floating rate payment depends on the underlying price of a given commodity falling within a preset range on the reset date. Otherwise, the floating rate leg of the swap is zero on that date. The floating rate is fixed at a specific spread (basis points) over the reference rate index.

This binary swap involves the exchange of cash flows based on the underlying commodity price or return on one side or both sides.

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