Notion Amount 50,000,000

Fixed rate 7.50%

NTD 360
Settlement Advanced set

Si (Floating cash FS (Fixed

DATE LIBOR (%) NAD (Days) Net cash flow
flow ) cash flow)
15-Dec 7.68
15-Mar 7.50 90 96,000,000.00
15-Jun 7.06 92
15-Sep 6.06 92
15-Dec 91
Days to maturity US$ spot interest rates Present Value
90 2.10% 0.9947774186
180 2.50% 0.987654321
270 2.40% 0.9823182711
360 2.54% 0.9752291789 PVn
Sum 3.9399791895

rfix 0.63
par value 1
NTD 360
NA 100000000
Days to Maturity US$ Spot Interest PV
360 1% 0.99009900990099
720 1.13% 0.97789947193429
1080 1.20% 0.96525096525097
1440 1.27% 0.95165588123335
1800 1.34% 0.93720712277413
sum 4.82211245109372

The fixed swap rae i 1.30%

AP (we assume annu 1
Fso 2%
FSt 1.30%
The swap value to th 3364937.1796007
The equivalent pay- -3364937.1796007