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The amount payable by the counterparty to L also is payable at a specific interval (18 months after initiation of the swap or its earlier termination or assignment) and is calculated by reference to two separate specified indices (LIBOR and a published aviation fuel price index) upon combined notional principal amounts equal to $500 million.
Higher notional principal values are suggestive of greater involvement in derivatives, while smaller notional principal amounts generally indicate relatively lighter derivatives activity.
The interpretation of notional principal amounts for end-user interest rate derivatives, however, has to be made carefully and should consider the potential limitations of notional principal information.
The semiannual interest payments are based on a $100 million notional principal amount and are settled in arrears (Exhibit 1).
dollars on a notional principal amount of $100 million.
Notional principal amounts often are used to express the volume of these transactions but do not represent the much smaller amounts potentially subject to credit risk.