NO.PZ2024042601000118
问题如下：
National united bank has recently increased the bank’s liquiditythrough securitization of existing credit card receivables. The proposedsecuritization includes tranches with multiple internal credit enhancements asshown in Exhibit 1 below. The total value of the collateral for the structureis USD 600 million, no lockout period, and the subordinated tranche B bond isthe first loss piece:
Exhibit 1: Proposed ABS Structure
Bond Class par value
Senior tranche USD 250 million
Junior tranche A USD 200 million
Junior tranche B USD 70 million
Subordinated tranche A USD50 million
Subordinated tranche B USD30 million
Total USD 600 million
At the end of thefourteenth month after the securities were issued, the underlying credit cardaccounts have prepaid USD 300 million in principal in addition to regularlyscheduled principal and interest payments. What is the amount of the prepaidprincipal paid out to the holders of the junior tranche A bond class?
选项：
A.USD 0 million
B.USD 50 million
C.USD 120 million
D.USD 230 million
解释：
USD 50 million iscalculated by USD300 - USD250 = USD50, since prepayments are first distributedto the senior tranches.
请讲一下这道题是什么意思
