An index amortizing rate swap allows the parties to the swap to change interest rates over the life of the swap but the notional principal does not change.

Name: An index amortizing rate swap allows the parties to the swap to change interest rates over the life of the swap but the notional principal does not change.
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In an index amortizing rate swap, the notional principal amount does indeed change based on a predetermined index, typically adjusting as interest rates change, not remaining constant.

An Index Amortizing Rate Swap Allows the Parties to the Swap