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Determine the profit or loss of a coupon swap contract
Hello. I have this task that I need to do, but no reading material to tell me the method of calculation for such a task. I tried searching on Google, but that did not give me any results. Does anyone here know how I can calculate tasks like this one?
Determine the profit or loss of the following coupon swap contract: Millennium Corporation of USA and Matahi Corporation of Japan enter into a currency coupon swap agreement on the 1st of January 2010. The agreement is: - Notional Principal: USD 20 Million (JPY 1600 million) - Swap Tenor: 2 years - Matahi will pay 7% in USD at the end of each year and receive 6% in JPY at the end of each year. - The currency market rates in Japan is 8%, while it is 7% in the USA. |
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