Fannie Mae-No Politics (FNMA)

[Blushing green]

Obit, can UBS or pershing pay off this deal whenever at any price (like an American option) or do they have to wait till expiration for this swap (like a European option)?

Also, UBS is already in profitable territory by ~300million?

UBS AG makes a profit of $305,113,45 by drawing and signing some papers plus any decrease in the beginning notional value.