![]() “We wanted to capture the wit and sass that a character like that has. “But it’s mostly because we think the old-fashioned witch is such an interesting archetype,” he admits. “Alientrap wants Wytchwood to have a ‘chill’ vibe to it.”Īccording to McGibney, part of the goal in focusing on the old hag was to “go against the norm” of not only the sorts of protagonists we often see, but of traditionally “cute and sweet” depictions of “‘witchy’ characters” as well. In assuming the role of this mysterious witch, players will journey across a bizarre countryside to, as Alientrap describes it, “pass your twisted judgment upon a capricious cast of characters and creatures.” The witch is caught up in a dark pact that she doesn’t remember making, which forces her to travel the lands - including forests, swamps and mountaintops - to uncover her past. That’s right - in a refreshing change of pace, you play as an elderly witch. “We knew we wanted her to be the classic ‘warts and newt-eyes flavour’ - a proper cranky old lady that so often takes up the villain role in these sorts of fables,” says McGibney. In the opening moments of Wytchwood, our hero rises from a chair alongside the message, “Her bones may creak, but they’ll hold her up…” But if you’re expecting the sort of spry, young male protagonist that dominates fantasy stories, you’re in for a surprise. The price of the swap refers to the initial terms of the swap at the start of the swap’s life.“In contrast to our previous action-focused games, we wanted to try and make a more narrative-based experience that was open to a wider audience,” says Wytchwood creative director Jesse McGibney over e-mail of the conception of the game.įrom there, the idea came about to have the game focus on a magician who could concoct all kinds of magical potions and spells. At inception, the value of an interest rate swap is zero. The value of a swap is its market value at any point in time. ![]() The price and the value of the swap are exactly the same and they both fluctuate throughout the life of the swap. The price of the swap refers to the fluctuating positive/negative prices throughout the lifecycle of the swap and the value is the price of the swap at initiationĬ. ![]() The price of the swap refers to the initial terms of the swap at the start of the swap’s life and value refers to determining the market value of the swap at any point in its lifeī. What is the difference between the price and the value of a swap?Ī. A received fixed-rate swap should be treated as buying a fixed-rate bond and issuing a floating rate bond: Therefore, the fixed rate on the swap has to be such that the present value of the fixed payments is equal to the present value of the floating payments. ![]() Here is an example of a plain vanilla interest rate swap with Bank A paying the LIBOR + 1.1% and Bank B paying a fixed 4.7%:Īs in most financial transactions, a swap dealer is between the two parties taking a commission on the trade.Īt inception, the value of an interest rate swap is zero. Interest Rate SwapsĪn interest rate swap is an agreement to exchange one stream of interest payments for another, based on a specified principal amount, over a specified period of time. If the present value of the payments in a swap or forward contract is not zero, then the party who will receive the greater stream of payments must pay the other party the present value of the difference, i.e., the net value. Swaps are equivalent to a series of forward contracts, each created at the swap price. On the other hand, swap valuation is the determination of market value during the life of the swap contract. Swap pricing is the determination of the initial terms of the swap at the inception of the contract. A swap is an agreement between two parties to exchange a series of cash flows, which can also be viewed as a series of forward contracts.
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