Examples of Interest Reset Period in a sentence
Floor: A minimum interest rate at which interest may accrue on a Debt Security during any Interest Reset Period.
Cap: A maximum interest rate at which interest may accrue on a Variable Rate Debt Security during any Interest Reset Period.
Date of Interest Rate Change The interest rate on each Floating Rate Note may be reset daily, weekly, monthly, quarterly, semi-annually or annually, as specified in the applicable Final Terms (this period is the “Interest Reset Period” and the first day of each Interest Reset Period is the “Interest Reset Date”).
The amount of interest (the “Interest Amount”) payable on any Series of Floating Rate Notes shall be calculated with respect to each specified denomination of such Floating Rate Notes of such Series for the relevant Interest Reset Period.
Unless we otherwise specify in the applicable Pricing Supplement, we will calculate this accrued interest factor by adding the interest factor for each Interest Reset Period in such Interest Payment Period and rounding the sum to nine decimal places.