Question: There is a certain CDS contract that covers a collection of 5 bonds. The trigger event is defined as when any of the five bonds

There is a certain CDS contract that covers a collection of 5 bonds. The trigger event is defined as when any of the five bonds defaults, the contact will pay out and then be terminated. What type of CDS contract is this?

Plain vanilla CDS

Nth to default CDS

None of these are correct

Basket CDS

Digital CDS

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