パワーリバースデュアルカレンシー債

最近PRDCの利益を考えています。
These notes seem to involve an attempt by the investor to profit if the domestic currency (in this case yen) declines against the foreign currency (usually the dollar) and if the domestic interest rate either declines or remains static vs. the foreign rate. They payoff function is something like:
C = max(rf*(S(T)/S0)-rd, 0)
S(T) is the number of yen per dollar at time T, and S0 is the same at time 0.
at each payoff time. Note that the minimal payoff value is 0, so this payoff cash flow resembles that of an option on the exchange rate (a call on dollars, in this case). My opinion is that it also resembles an option on the interest rate, unless these are assumed to be relatively static.
These notes tend to have long times before expiration, 15 to 30 years, but they can be called by the issuer. I assume that this means that the issuer pays the investor some amount (the premium?) in order to no longer have to make the payoffs through to expiration. The notes can be called at selected intervals (often the payoff date) before expiration, making them "Bermudan" in this sense.
There are also PRDC swaps, which involve JPY-LIBOR spreads. I am not sure how these cash flows work. LIBOR stands for "London Inter-Bank Offering Rate" and refers to interest rates at which money is lent.