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Solution Library
Calculation of Interest Rate Swap in return for LIBOR
Question
Under the terms of an interest rate swap, a financial institution has agreed to pay 10% per annum and to receive the 3-month LIBOR in return on a notional principal of $50 million with payments exchanged every 3 months. The swap has a remaining life of 14 months. The current rate being swapped for 3-month LIBOR is 11.8% per annum for all maturities. The 3-month LIBOR rate 1 month ago was 12% per annum. All rates are compounded quarterly. What is the value of the swap?
Summary
The question belongs to Finance and it is about interest rate Swap. In this question, a financial institution agrees to pay 10% pa to receive 3 month LIBOR in return for $50M. The value of the swap has to be calculated.
Total Word Count 84
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