The euro tranche, with a coupon of4.25 per cent, was priced to yield40 basis points over the swap rate a measure of the interest charged by Banks when lending to each other.

此次欧元债券的票面利率为4.25%其定价较掉期利率贴水40个基点，所谓掉期利率指的是银行间相互借贷时的利率指标。

youdao

Then we try to summarize the points in relative research. Moreover, we analyze the pricing of interest rate swap in RMB from arbitrage point of view.

然后对国内外利率互换相关研究进行了文献的综述，并以此为切入点，从套利定价的角度分析了人民币利率互换的套利定价组合。

youdao