Simplifying a LIBOR versus 24% minus twice LIBOR swap

In a swap, party A pays LIBOR and in return receives $24\% - 2 \times \text{LIBOR}$ on the same notional. Describe A's position in simpler, more familiar terms.

A is receiving fixed in three plain vanilla swaps: receive $8\%$, pay LIBOR, each on the full notional. Netting the legs, A receives $24\% - 3L = 3(8\% - L)$, so A gains when LIBOR falls, with three times the rate sensitivity of a single swap. If the inverse-floater leg is floored at zero (LIBOR above $12\%$), A also effectively owns an interest-rate cap on $2\times$ notional struck at $12\%$.