Question: A two-year floating rate note pays 6-month Libor plus 100 bp. The float is priced at 96 percent of face value. The current 6-month Libor

A two-year floating rate note pays 6-month Libor plus 100 bp. The float is priced at 96 percent of face value. The current 6-month Libor is 1.50%. Assume a 30/360 day count convention and evenly spaced periods. What is the discount margin for the float in basis points?

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