A swaption is an option contract on an interest rate swap. The
contract gives the holder the option to execute an interest rate swap at a specified
future date, thereby locking in the financing costs at a specified fixed rate of interest.
In following dialog window, the swaption holder has a right to enter a swap beginning at
the Swap Exercise Date (in this case, 1/1/96) and ending at Maturity
(1/1/2000).
