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Pay-As-You-Go Cap


An interest rate cap that requires its holder to pay only a small upfront premium compared to corresponding standard caps, and allows for deciding, prior to each reset date, whether to go on with the cap, and hence pay the next installment, or not.

The pay-as-you-go cap is also known as a installment cap.



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Derivatives have increasingly become very important tools in finance over the last three decades. Many different types of derivatives are now traded actively on ...
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