Define: Mid-Swap Rate
Mid-Swap Rate means the average bid and offered rates related to a Reset Date considering a set [condition]
Mid-Swap Rate means the average bid and offered rates related to a Reset Date considering a set [condition].
Relevant Circumstances
- When fixed-rate bond pricing references the prevailing swap market
- If a coupon reset depends on the mid-swap rate on a defined date
- Where average bid and offered rates determine the reference figure