This index is intended to track the weekly Cap and Participation Rate for a 1-year point-to-point S&P 500 crediting strategy that would be offered in a market-consistent Fixed Index Annuity (FIA). We calculate these rates using the standard Black-Scholes formula.
Black-Scholes Option Valuation Formula Parameters
Volatility: 12 month SPX implied volatility using 3rd party institutional data
Risk-free Rate: 12 month CME Term SOFR
Dividend Yield: Nasdaq Data Link
Assumed FIA Option Budget
Net Investment Earned Rate: Moody’s Baa Seasoned Corporate Bond Yield
Life insurer spread: 1%
| Cap Account | Par Rate Account | ||
| Date | Option Budget | 0% Floor | 0% Floor |
| 12/12/2023 | 4.84% | 8.96% | 59.47% |
| 12/5/2023 | 5.05% | 9.20% | 60.21% |
| 11/28/2023 | 5.09% | 9.50% | 61.89% |
| 11/21/2023 | 5.18% | 9.72% | 63.13% |
| 11/14/2023 | 5.42% | 10.28% | 65.63% |
| 11/7/2023 | 5.43% | 10.28% | 63.87% |
| 10/31/2023 | 5.74% | 11.04% | 62.55% |
| 10/24/2023 | 5.71% | 10.69% | 61.67% |
| 10/17/2023 | 5.54% | 10.55% | 65.77% |
| 10/10/2023 | 5.62% | 10.89% | 65.48% |
| 10/3/2023 | 5.47% | 10.42% | 61.82% |
| 9/27/2023 | 5.38% | 10.13% | 62.70% |
| 9/20/2023 | 5.15% | 9.67% | 61.67% |
| 9/13/2023 | 5.09% | 9.62% | 63.57% |
| 9/6/2023 | 5.09% | 9.59% | 63.13% |
| 8/30/2023 | 4.94% | 9.20% | 61.52% |
| 8/23/2023 | 5.02% | 9.23% | 60.50% |
| 8/16/2023 | 5.12% | 9.45% | 60.94% |
| 8/9/2023 | 4.92% | 9.42% | 66.21% |
| 8/2/2023 | 4.90% | 8.96% | 60.50% |
| 7/26/2023 | 4.79% | 8.94% | 62.40% |
| 7/19/2023 | 4.62% | 8.57% | 60.64% |
| 7/12/2023 | 4.67% | 8.54% | 60.94% |
| 7/5/2023 | 4.78% | 8.79% | 61.08% |
| 6/28/2023 | 4.77% | 8.96% | 61.67% |
| 6/21/2023 | 4.68% | 8.74% | 59.33% |
| 6/14/2023 | 4.77% | 9.16% | 60.94% |
| 6/7/2023 | 4.85% | 9.08% | 60.64% |
| 5/31/2023 | 4.80% | 8.62% | 56.40% |
| 5/24/2023 | 4.91% | 8.76% | 55.52% |
| 5/17/2023 | 4.83% | 8.79% | 58.23% |
| 5/10/2023 | 4.69% | 8.44% | 54.35% |
| 5/3/2023 | 4.58% | 8.11% | 51.71% |
| 4/26/2023 | 4.54% | 8.03% | 50.83% |
| 4/19/2023 | 4.59% | 8.23% | 52.81% |
| 4/12/2023 | 4.49% | 8.14% | 50.68% |
| 4/5/2023 | 4.44% | 8.11% | 50.10% |
| 3/29/2023 | 4.72% | 8.74% | 52.81% |
| 3/22/2023 | 4.64% | 8.56% | 50.10% |
| 3/15/2023 | 4.73% | 8.67% | 49.07% |
| 3/8/2023 | 4.77% | 8.79% | 52.59% |
| 3/1/2023 | 4.85% | 8.65% | 52.88% |
| 2/22/2023 | 4.78% | 8.69% | 50.83% |
| 2/15/2023 | 4.63% | 8.35% | 52.22% |
| 2/8/2023 | 4.46% | 7.96% | 49.80% |
| 2/1/2023 | 4.30% | 7.75% | 50.10% |
| 1/25/2023 | 4.42% | 8.15% | 50.83% |
| 1/18/2023 | 4.38% | 8.11% | 46.73% |
| 1/11/2023 | 4.63% | 8.91% | 48.56% |
| 1/4/2023 | 4.76% | 9.30% | 47.24% |
| 12/28/2022 | 4.89% | 9.64% | 46.80% |
| 12/21/2022 | 4.69% | 9.06% | 45.56% |
| 12/14/2022 | 4.44% | 8.33% | 43.58% |
| 12/7/2022 | 4.37% | 8.25% | 41.67% |
| 11/30/2022 | 4.74% | 9.08% | 45.34% |
| 11/23/2022 | 4.73% | 9.16% | 46.14% |
| 11/16/2022 | 4.91% | 9.69% | 46.58% |
| 11/9/2022 | 5.45% | 11.30% | 48.85% |
| 11/2/2022 | 5.29% | 10.79% | 47.83% |
| 10/26/2022 | 5.37% | 11.16% | 48.19% |
| 10/19/2022 | 5.39% | 11.23% | 47.31% |
| 10/12/2022 | 5.18% | 10.69% | 45.19% |
| 10/5/2022 | 4.89% | 9.77% | 45.26% |
| 9/28/2022 | 4.97% | 9.96% | 45.12% |
| 9/21/2022 | 4.63% | 9.18% | 43.21% |
| 9/14/2022 | 4.56% | 8.91% | 45.73% |
| 9/7/2022 | 4.51% | 8.89% | 45.12% |
| 8/31/2022 | 4.33% | 8.28% | 42.86% |
| 8/24/2022 | 4.34% | 8.38% | 44.85% |
| 8/17/2022 | 4.13% | 7.91% | 44.00% |
| 8/10/2022 | 4.07% | 7.94% | 42.83% |
| 8/3/2022 | 4.20% | 8.27% | 44.72% |
| 7/27/2022 | 4.08% | 7.84% | 42.76% |
| 7/20/2022 | 4.24% | 8.40% | 42.76% |
| 7/13/2022 | 4.23% | 8.28% | 42.05% |
| 7/6/2022 | 4.32% | 8.66% | 43.18% |
| 6/29/2022 | 4.34% | 8.73% | 42.47% |
| 6/22/2022 | 4.33% | 8.75% | 42.83% |
| 6/15/2022 | 4.43% | 8.75% | 42.83% |
