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Weight each repayment by the time it is repaid in years. So if 1 mio is repaid in 5.5 years multiply 1 mio * 5.5. Continue this process for each repayment and then add all the results.Divide this result by the maximum notional and that is the average life of the amortiziation part of the swap. I would then add the difference in years between the first drawdown and the peak notional.In this case if the first drawdown is at time 0 and the the peak notional is at 5.5 years (i.e. just as the first repayment is made) just add 5.5 to your result above.

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Q: How would you calculate the average life of a roller-coaster swap?
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