Bullet swap

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A swap with no Valuation Dates before the scheduled Termination Date, being the great day of reckoning, whereupon the lamb shall lie down with the lion, brokers shall value their exposures with volume-weighted average price, and down from the sky will come the great King of Terror.

OK maybe I am overdoing the apocalyptic nature of a bullet swap. It just means a plain old swap that doesn’t reset before the termination date.

See also

• Valuation Date
• Apocalypse