概要

Forward, amortizing and zero-coupon swaps are variations of the traditional interest rate swap structure that are often used in combination with one another. Forward swaps are used to take a view on forward interest rates, amortizing swaps are used to match the underlying principal to an amortizing loan, while zero-coupon swaps are useful if the floating rate receiver has a short-term cash flow deficit. In this tutorial, you will learn how each of these swap types is used, structured and priced.

宗旨

On completion of this tutorial, you will be able to:

- Identify opportunities to use the three swaps profitably with clients
- Target market conditions that make the swaps ideal client products
- Identify pricing requirements
- Price the swaps based on market conditions
- Identify all sources of mark-to-market sensitivities

內容

Topic 1: Forward Swaps
Topic 2: Amortizing Swaps
Topic 3: Zero-Coupon Swaps