Fixed Reset Rate Notes Clause Samples

Fixed Reset Rate Notes. Determination of the U.S. Treasury Rate” in the Preliminary Prospectus Supplement. From (and including) the Issue Date to (but excluding) maturity, the interest rate on the Floating Rate Notes will be equal to the Benchmark (initially, Compounded Daily SOFR (both terms as defined in the Preliminary Prospectus Supplement)) plus 1.100% per annum, accruing from (and including) the Issue Date to (but excluding) maturity. The interest rate applicable to the Floating Rate Notes will be reset quarterly on each Floating Rate Notes Interest Reset Date (as defined below). Interest Payment Dates Interest on the Fixed Reset Rate Notes will be payable semi-annually in arrear on May 23 and November 23 of each year, beginning on November 23, 2025, to (and including) maturity Interest on the Floating Rate Notes will be payable quarterly in arrear on February 23, May 23, August 23 and November 23 of each year, beginning on August 23, 2025, to (and including) maturity Reset Date May 23, 2030 February 23, May 23, August 23, and November 23 of each year, beginning on August 23, 2025 (each, a “Floating Rate Notes Interest Reset Date”) Reset Determination Date The second Business Day (as defined below) immediately preceding the Fixed Reset Rate Notes Reset Date The date that is two USGS Business Days (as defined in the Preliminary Prospectus Supplement) before each applicable Floating Rate Notes Interest Reset Date Day Count Convention 30/360 (Following, unadjusted) Actual/360 (Modified Following, adjusted) Business Days New York and London US Treasury Benchmark 3.875% due April 30, 2030 N/A US Treasury Benchmark Yield 4.065% N/A Fixed Rate Spread to Benchmark Treasury T+ 105bps N/A Re-offer Yield 5.115% N/A SOFR Convention N/A SOFR as published at 3 pm New York Time Observation method: Observation Period Shift Interest Determination Date: The date that is two USGS Business Days (as defined in the Preliminary Prospectus Supplement) before each applicable Floating Rate Notes Interest Reset Date Shift Period: Five USGS Business Days (as defined in the Preliminary Prospectus Supplement) Calculation method: Compounded daily The determination and calculation of the Benchmark (initially Compounded Daily SOFR) is subject to the provisions set forth under “Description of the Senior Notes—Interest—Floating Rate Notes—Calculation of the Benchmark” in the Preliminary Prospectus Supplement. Issue Price 100.000% of the principal amount 100.000% of the principal amount Gross Proceeds $1,250,...