>>/164560/
same same, anon - "notional" value applies to all of them (all debt-based instruments" because, as the write-up says, contractual math (the value, p/l and settlement price) of the instrument is BASED upon the face or notional value, but the actual market risk just a fraction of that.

unless the assets themselves disappear/go worthless.  Even a big interest rate spike, which would kill the value of the instrument, won't *directly affect the value of the asset it represents (but of course it will *indirectly as rate spikes drive down prices of assets too-- but not with the same lever).