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You observe a $1million principal guaranteed Credit Linked Note with a 5% coupon rate. It is written over the value of the ASX200 with an

You observe a $1million principal guaranteed Credit Linked Note with a 5% coupon rate. It is written over the value of the ASX200 with an exercise of 7300. What will the payoff of the note be if the value of the index is 7500?

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