Dear All, I know this is a very simple question to most of you but still I hope somebody could answer me this tiny question, since my brain is on the verge of exploding!!! I am having trouble to value this Total Return Equity Swap. In detail this is a Equity Swap with a floating leg, thus pay equity, receive floating. Usually I would take the suggestions of Hull and Chance to value the Equity Swap according to: (sorry,latex editor is not working)Floating Leg: N*(1+L)Equity Leg: N*(Spot/Initial)*(1+r)+D*Mwhere N equals Notional, L equals the Forward Libor Rate, D equals Dividend Payment, Spot equals the share's spot price and initial the share's initial price and M equals the number of shares.My question now is: Is there a way to value this equity swap also according to the reset dates? I mean, calculate the cash flows every reset data and discount them to receive the price? And since I assume dividend payments, how do I include this in my calculation?Because if I simply takeM*(S1-S0+D-L*S0) and do this for every reset date, I don't get an adequate price.thank you very much for every hint.Kind RegardsMonchichi

Wow, maybe it's not as easy as I thought it was.