NO.PZ2023120801000055
问题如下:
DMT Corp. issued a five-year floating-rate note (FRN) that pays a quarterly coupon of three-month MRR plus 125 bps. The FRN is priced at 96 per 100 of par value. Assuming a 30/360 day-count convention, evenly spaced periods, and constant three-month MRR of 5%, the discount margin for the FRN is closest to:
选项:
A.
221 bps
B.
400 bps
C.
180 bps
解释:
Correct Answer: A
The interest payment each period per 100 of par value is:
The discount margin can be estimated by solving for DM in the equation:
The Correct Answer for the discount rate, r = (0.05+DM)/4 is 1.8025%.
Therefore DM = 2.21%, or 221 bps.
assuming 到 spaced periods这句话是什么意思 在本题中什么作用