Automatic Early Redemption definition

Automatic Early Redemption. In certain circumstances, the Notes may be redeemed automatically prior to maturity following the occurrence of certain events specified in the applicable Conditions.

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Automatic Early Redemption is specified as being "Applicable" in the applicable Final Terms, Condition 7 (Redemption and Purchase) applies, except that, unless previously redeemed or purchased and cancelled under the Conditions, if at the (or any) Valuation Time on the (or any) Automatic Early Redemption Observation Date(s) an Automatic Early Redemption Event has occurred each Note will be redeemed by the Issuer at its Specified De- nomination in the relevant Specified Currency on the next following Interest Payment Date, unless the Automatic Early Redemption Event occurred during the last Fixed Interest Period, in which case Condition 7 (Redemption and Purchase) applies.

Automatic Early Redemption has the meaning set forth in Section 10(a).

Examples of Automatic Early Redemption in a sentence

• Automatic Early Redemption of the Notes may occur during the term of the Notes.

• If the applicable Preference Share Confirmation specifies that "Preference Share Automatic Early Redemption Amount 2" is "Applicable" then the Preference Shares may beautomatically redeemed early in accordance with the section entitled "A.

• The terms used herein for the purposes of calculating the early redemption amount in respect of Preference Share Automatic Early Redemption Amount 3 shall have the same meaning as the defined terms used in Preference Share Variable Condition 3.3. See "Description of the Preference Shares – Part 2: Specific Terms and Conditions (Part B: Key Terms (variable))" below.

• An Automatic Early Redemption Event shall mean that the Reference Level is equal to or higher than the Trigger Level, which will be specified in the applicable Final Terms.

• Preference Share Automatic Early Redemption Amount 1" above in the same manner (and in the same amount) as if the relevant Preference Share Confirmation specified "Single Underlying Performance" to be "Applicable", together with thepotential to receive an additional amountcomponent.

• The terms used below for the purposes of calculating the early redemption amount in respect of Preference Share Automatic Early Redemption Amount 1 have the same meaning as the defined terms used in Preference Share Variable Condition 3.1. See "Description of the Preference Shares – Part 2: Specific Terms and Conditions (Part B: Key Terms (variable))" below.

• The Preference Shares maybe automatically redeemed early(prior to the scheduled redemption date) if the relevant Preference Share Confirmation specifies "Preference Share Automatic Early Redemption Amount 3" to be "Applicable".

• If an Automatic Early Redemption Event occurs, each Note will be redeemed at [insert Specified Denomination in Specified Currency] on the Interest Payment Date immediately following the occurrence of such Automatic Early Redemption Event, unless the Automat- ic Early Redemption Event occurred during the last Fixed Interest Period, in which case Automatic Early Redemption does not take effect and the Note will be redeemed at [insert Maturity Date], the scheduled Maturity Date.

• For the avoidance of doubt, in the event of an Automatic Early Redemption Event pursuant to clause (iv) of the definition thereof (solely if such event occurs with respect to the Corporation), the amount due to the Holders pursuant to this Section 10(c) shall be the Aggregate Series B Liquidation Preference, solely to the extent that any such amounts remain legally available for distribution following payment of any liquidation preferences otherwise payable to holders of any Senior Stock.

• Redemption date payout If Automatic Early Redemption applies to a Note, the Note may be redeemed at its denomination prior to its scheduled maturity date.