Basics of Credit Derivatives

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Credit derivatives terminology

By Vinod Kothari  

 

 

Recovery value payout A payout structure in a credit derivative transaction where the protection seller will pay to the protection buyer the par value or nominal value of the reference asset, and in turn, acquire the reference asset or another deliverable obligation from the protection buyer. In other words, the protection seller provides full protection against any deficit in the recovery value of the reference asset. Compare with binary payout.

 

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