A Planned Amortization Class (PAC) tranche may have an initial collar given as 100 - 300 PSA. This means:

A、thePACtranchewillmakeitsscheduledpaymentstoinvestorsunlesstheactualprepaymentexperienceisbelow100PS
A、
B、iftheprepaymentrateisoutsideof100-300PSA,sopaymentstoaPACtrancheareeithersoonerorlaterthanpromised,thePACtrancheisreferredtoasabreachedPA
C、
C、thePACtranchewillmakeitsscheduledpaymentstoinvestorsunlessactualprepaymentexperienceisabove300PSAorbelow100PS
A、