Source: https://www.newyorkfed.org/markets/reference-rates/sofr

The Secured Overnight Financing Rate (SOFR) is a broad measure of the cost of borrowing cash overnight collateralized by Treasury securities. Each business day, the New York Fed publishes the SOFR on the New York Fed website at approximately 8:00 a.m. ET. SOFR is published as a percentage with 2 decimal places.

Resolves YES if the rate published at the above New York Fed website is greater than 5.50% on any day up to and including Dec 29, 2023. Due to weekends and holidays, Dec 29, 2023 will be the last publication of SOFR for 2023.

Resolves NO if SOFR is below 5.50% for all days up to and including Dec 29, 2023.

The SOFR published Nov 1, 2023 was 5.35% (listed as Oct 31).