Option R[N]12d(Sign) (Rate)| Option R |
[N]12d |
(Sign) (Rate) |
Conditional (C16) in a conditional subsequence (C17)
This field specifies the spread, ie, the margin which will be added to (or subtracted from, if negative) the floating rate.
For an ISDA Master (Type in field 77H is ISDA), this field specifies the Spread as per ISDA definitions.
The integer part of Rate must contain at least one digit. A decimal comma is mandatory and is included in the maximum length (Error code(s): T40, T43).
Sign must not be used if Rate is zero (Error code(s): T14).
Rate is expressed as a percentage.
If the spread is positive, ie, added to the rate, Sign is not present.
The absence of this field means that the spread is zero.
