The role of a good calculation agent is much more than typing numbers into a calculator to find the result of a formula. The role requires a thorough understanding of the transaction documents, the market activities that affect transactions, the hedging of transactions, and the processes – both formal and informal – that are needed to make the transaction work and to know how to help the issuer manage all of these items.
Key learning objectives:
How does the formula work for fixed rate bonds which include make-whole calls at the time they are called for redemption?
How is an issuance error corrected?