A type of callable LIBOR exotic in which the underlying instrument is a plain-vanilla fixed-for-floating swap. Therefore, the coupon at a given point in time is equal to the cap of the swap’s floating payment.
A type of callable LIBOR exotic in which the underlying instrument is a plain-vanilla fixed-for-floating swap. Therefore, the coupon at a given point in time is equal to the cap of the swap’s floating payment.
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