Introduction to Polyurethanes: Composite Wood. Polyurethanes play a major role in todayâs modern materials such as in composite wood, which is a combination of synthetic and natural materials.
Total Return Swap (TRS) A Total Return Swap (TRS) is a bilateral financial transaction where the counterparties swap the total return of a single asset or basket of assets in exchange for periodic cash flows, typically a floating rate such as LIBOR +/- a basis point spread and a guarantee against any capital losses.
A TRS is similar to a plain vanilla swap except the deal is structured such that the total return (cash flows plus capital appreciation/depreciation) is exchanged, rather than just the cash flows. A key feature of a TRS is that the parties do not transfer actual ownership of the assets, as occurs in a repo transaction.