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PayPal Honey, formerly known as Honey, is an American technology company and a subsidiary of PayPal known for developing a browser extension that aggregates and automatically applies online coupons on eCommerce websites.
Wikipedia
In probability theory, the coupon collector's problem refers to mathematical analysis of "collect all coupons and win" contests. It asks the following question: If each box of a brand of cereals contains a coupon, and there are n different types of coupons, what is the probability that more than t boxes need to be bought to collect all n coupons?
The company is one of the largest American-owned private employers in the United States. The corporation was founded in Minneapolis by businessman George Dayton in 1902, and developed through the years via expansion and acquisitions. Target, the company's first discount store and eventual namesake, was opened in 1962.
Slickdeals' platform allows users to share, review, and give feedback on deals and coupons in the U.S. It also provides deal listings provided by the community and special saving coupons. USA Today called it one of the largest online deal-sharing communities. It is also available as a browser extension. References
Using the example, the IO is created by taking 1% of coupon off the 6% original coupon gives an IO of 1% coupon off $100mm notional principal, but this is by convention 'normalized' to a 6% coupon (as the collateral was originally 6% coupon) by reducing the notional principal to $16.666667mm ($100mm / 6).