Benchmark Rate means, with respect to any Redemption Date, the rate per annum equal to the annual equivalent yield to maturity or interpolated maturity of the Comparable Benchmark Issue (as defined below), assuming a price for the Comparable Benchmark Issue (expressed as a percentage of its principal amount) equal to the Comparable Benchmark Price for such Redemption Date.
Benchmark Rate means the average of the two quotations given by the Reference Dealers on the Calculation Date at 11.00 a.m. (Central European time ("CET")) of the mid-market annual yield to maturity of the Reference Bond specified in the applicable Final Terms. If the Reference Bond is no longer outstanding, a Similar Security will be chosen by the Determination Agent at
Benchmark Rate shall have the meaning specified in paragraph 3(c) of Part II of this Section 12.1.
Examples of Benchmark Rate in a sentence
Benchmark Rate is the rate of interest applicable on HDFC fixed rate deposit product for the corresponding period.
Where Rate Option Annex Determination is specified in the Final Terms as the manner in which the Rate of Interest is to be determined, the Final Terms shall specify which Benchmark Rate is applicable and the Rate of Interest for each Interest Accrual Period shall be determined in accordance with the provisions set out for such Benchmark Rate in Part 2 of the Rate Option Annex.
Where, for any reason, it is not possible to determine the Rate of Interest for the relevant Benchmark Rate in accordance with the provisions of the Rate Option Annex, then such Rate of Interest shall be determined by the Calculation Agent in its sole and absolute discretion.
However, the Benchmark Rate used in such calculation may change from time to time and Bank will notify you of such rate change.
Currencies on which we pay interest based on a market benchmark rate for overnight deposits (which we call "Benchmark Rate Currencies"): o For each of these currencies, the interest rate we pay is based on a specific market benchmark (such as Effective Fed Funds) and is calculated by taking an average of the benchmark rate and subtracting a spread.
More Definitions of Benchmark Rate
Benchmark Rate means the mid-market annual yield to maturity of the Reference Bond as displayed on the Reference Screen Page at 11.00 a.m. (CET) on the Calculation Date (or, if the Reference Screen Page is not available at such time, the average of the four quotations given by Reference Dealers of the mid-market annual yield to maturity of the Reference Bond on the Calculation Date at or around 11.00 a.m. (CET). The Benchmark Rate (and the reference of the Similar Security, if applicable) will be published by the Issuer in accordance with Condition 19 (Notices).
Benchmark Rate means, in respect of an Interest Period, the rate for deposits in EUR for a period of three months which appears on the Reuters Screen EURIBOR01 Page (or any Successor Source) as of 11.00 a.m., Brussels time, on the relevant Interest Determination Date. If such rate does not appear on the Reuters Screen EURIBOR01 Page (or such Successor Source as aforesaid) on such day, the Benchmark Rate for such Interest Period shall be determined on the basis of the rates at which deposits in EUR are offered by four major banks in the Euro-zone interbank market selected by the Calculation Agent (the "Reference Banks") at approximately 11.00 a.m., Brussels time, on the relevant Interest Determination Date to prime banks in the Euro-zone interbank market for a period of three months commencing on the first day of such Interest Period and in an amount (a "Representative Amount") that is representative of a single transaction in that market at the relevant time assuming an Actual/360 day count basis. The Calculation Agent will request the principal Euro-zone office of each of the Reference Banks to provide a quotation of its rate. If at least two quotations are provided as requested, the Benchmark Rate for such Interest Period will be the arithmetic mean of the quotations. If fewer than two quotations are provided as requested, the Benchmark Rate for such Interest Period will be the arithmetic mean of the rates quoted by major banks in the Euro-zone, selected by the Calculation Agent, at approximately 11.00 a.m., Brussels time, on the first day of such Interest Period for loans in EUR to leading European banks for a period of three months commencing on the first day of such Interest Period and in a Representative Amount. If no such rates are quoted, the Benchmark Rate for such Interest Period will be the rate determined by the Calculation Agent in its sole and absolute discretion by reference to such source(s) and at such time as it deems appropriate.
Benchmark Rate means, with respect to any Make-whole Redemption Date, the rate per year equal to the annual equivalent yield to maturity of the French government bond (Obligations Assimilables du Trésor – OAT) bearing interest at a rate of 3.75 per cent. per annum and maturing on 25 October 2019. If such French government bond is no longer outstanding, a Similar Security will be reasonably chosen by the Quotation Agent, after prior consultation with the Issuer if practicable under the circumstances.
Benchmark Rate means the benchmark rate calculated on the Calculation Date and determined by the Quotation Agent based on the rate per annum equal to the annual yield to maturity or interpolated yield to maturity of the Benchmark Security, assuming a price for the Benchmark Security (expressed as a percentage of its nominal amount) equal to the Benchmark Security Price for the relevant Optional Redemption Date;
Benchmark Rate means a rate index (such as the London Interbank Offered Rate (LIBOR), Prime Rate, WSJ Prime Rate, 1, 3, or 5 year Treasury Constant Maturity, etc.), based upon general market conditions, that is commonly used to calculate the interest rate in adjustable-rate transactions in the credit industry.
Benchmark Rate means (i) the average of the four (4) quotations given by the Reference Dealers of the mid-market annual yield to maturity of the Reference Security on the Calculation Date at 11.00 a.m. (CET) or (ii) the Reference Screen Rate. The Benchmark Rate will be published by the Issuer in accordance with Condition 14;