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You should check this answer: How to interpret the 'price' of a CDS?

It explains the relation between spread and upfront. In your particular case you might consider using a simple model mentioned at the end of that answer:

A simple model for the value of a short protection CDS can be found if you write

V = (C-S) x RPV01

where

RPV01 = (1−exp(−gT))/g

and C is the coupon, S is the par CDS spread, T is the remaining life in years and

 

g=r+S/(1−R)g=r+S/(1−R)

where r is the risk-free (Libor) rate and R is the expected recovery rate, usually set to 40%.

You should check this answer: How to interpret the 'price' of a CDS?

It explains the relation between spread and upfront. In your particular case you might consider using a simple model mentioned at the end of that answer:

A simple model for the value of a short protection CDS can be found if you write

V = (C-S) x RPV01

where

RPV01 = (1−exp(−gT))/g

and C is the coupon, S is the par CDS spread, T is the remaining life in years and

g=r+S/(1−R)g=r+S/(1−R)

where r is the risk-free (Libor) rate and R is the expected recovery rate, usually set to 40%.

You should check this answer: How to interpret the 'price' of a CDS?

It explains the relation between spread and upfront. In your particular case you might consider using a simple model mentioned at the end of that answer:

A simple model for the value of a short protection CDS can be found if you write

V = (C-S) x RPV01

where

RPV01 = (1−exp(−gT))/g(1−exp⁡(−gT))/g

and C is the coupon, S is the par CDS spread, T is the remaining life in years and

g=r+S/(1−R)g=r+S/(1−R)

where r is the risk-free (Libor) rate and R is the expected recovery rate, usually set to 40%.

You should check this answer: How to interpret the 'price' of a CDS?

It explains the relation between spread and upfront. In your particular case you might consider using a simple model mentioned at the end of that answer:

A simple model for the value of a short protection CDS can be found if you write

V = (C-S) x RPV01

where

RPV01 = (1−exp(−gT))/g

and C is the coupon, S is the par CDS spread, T is the remaining life in years and

g=r+S/(1−R)g=r+S/(1−R)

where r is the risk-free (Libor) rate and R is the expected recovery rate, usually set to 40%.

You should check this answer: How to interpret the 'price' of a CDS?

It explains the relation between spread and upfront. In your particular case you might consider using a simple model mentioned at the end of that answer:

A simple model for the value of a short protection CDS can be found if you write

V = (C-S) x RPV01

where

RPV01 = (1−exp(−gT))/g(1−exp⁡(−gT))/g

and C is the coupon, S is the par CDS spread, T is the remaining life in years and

g=r+S/(1−R)g=r+S/(1−R)

where r is the risk-free (Libor) rate and R is the expected recovery rate, usually set to 40%.

You should check this answer: How to interpret the 'price' of a CDS?

It explains the relation between spread and upfront. In your particular case you might consider using a simple model mentioned at the end of that answer:

A simple model for the value of a short protection CDS can be found if you write

V = (C-S) x RPV01

where

RPV01 = (1−exp(−gT))/g(1−exp⁡(−gT))/g

and C is the coupon, S is the par CDS spread, T is the remaining life in years and

g=r+S/(1−R)g=r+S/(1−R)

where r is the risk-free (Libor) rate and R is the expected recovery rate, usually set to 40%.