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There is a certain CDS contract that covers a collection of 5 bonds. The trigger event is defined as if there are three defaulted bonds,

There is a certain CDS contract that covers a collection of

5

bonds. The trigger event is defined as if there are three defaulted bonds, the contact will pay out and then be terminated. What type of CDS contract is this?

None of these are correct

Basket CDS

Eigital CDS

Plain vanilla CDS

Limited default CDS

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