A credit default swap requires a semi$-$annual payment at the rate of $200$ basis points per

year. The principal is $$1$ billion and the credit default swap is settled in cash. A default

occurs after four years and two months, and the calculation agent estimates that the

price of the cheapest deliverable bond is $60\%$ of its face value shortly after the default.

List the cash flows and their timing for the seller of the credit default swap.