Actual/360 means that interest is calculated on the basis of the actual number of days elapsed in a year of 360 days.
Actual/360 means that interest or any other relevant accrual factor shall be calculated on the basis of the actual number of days elapsed in a year of 360 days. “Actual/365 (fixed)” shall mean that interest or any other relevant accrual factor shall be calculated on the basis of the actual number of days elapsed in a year of 365 days, regardless of whether accrual or payment occurs during a calendar leap year.
Examples of Actual/360 in a sentence
Actual/360, Modified Following, Adjusted, for each respective Floating Rate Period.
More Definitions of Actual/360
Actual/360 means a calculation on the basis of the actual number of days elapsed in a year of 360 days.
Actual/360 is specified in the applicable Final Terms, the actual number of days in the Interest Period divided by 360;
Actual/360 which means that interest or any other relevant factor is calculated on the basis of the actual number of days elapsed in a year of 360 days;
Actual/360 has the meaning given to it in Condition 5.09 (Definitions); “Actual/365 (Fixed)” has the meaning given to it in Condition 5.09 (Definitions); “Actual/365 (Sterling)” has the meaning given to it in Condition 5.09 (Definitions);
Actual/360. , which means that the coupon interest payment is calculated as