You Own a Mortgage-Backed Security and You Will Receive Fixed

You own a mortgage-backed security and you will receive fixed semiannual interest payments and no principle payments as long as prepayments remain within a given range. If prepayments move outside the range, you will receive prepayments. You must be holding a ______________________.

A) class C or lower sequential pay CMO
B) PAC CMO
C) PO security
D) pass-through security
E) CDO