Pulsed neutron spectroscopy is used to absolute measurements of the dy
namic magnetic susceptibility of insulating YBa2Cu3O6.15. Acoustic and
optical modes, derived from in- and out-of-phase oscillation of spins
in adjacent CuO2 planes, dominate the spectra and are observed up to
250 meV. The optical modes appear first at 74+/-5 meV. Linear-spin-wav
e theory gives an excellent description of the data and yields intrala
yer and interlayer exchange constants of J(parallel to) = 125+/-5 meV
and J(perpendicular to) = 11+/-2 meV, respectively, and a spin-wave in
tensity renormalization Z(chi) = 0.4+/-0.1.