The callable countdown


Product description
This product pays quarterly coupons from March 24, 2010 depending on the proportion of days the constant maturity swap (CMS) rate remains within the 0-6.25% range multiplied by a specified interest factor. Coupons are floored at 0% and have a maximum of the interest factor for that period. For the first five years (until December 2015) the interest factor is 5.5% per annum; for the next five years (until 23 December 2019) the interest factor is 8% per annum; and for the final

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