What must be the minimum value of that ensures

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Question: You enter into a $100 million notional swap to pay six-month Libor and receive %. Payment dates are semi-annual on both legs. The last payment date was March 25 and the next payment date is September 25. Floating payments are based on the USD money-market convention, and fixed payments are based on the 30/360 convention. If the floating rate was reset to 6% on March 25, what must be the minimum value of that ensures you will receive a positive net payment on September 25?

Reference no: EM131970608

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