Benchmark Treasury means actively traded U.S. Treasury securities with maturity on or closest to (a) in the case of the Rate of Interest from the Closing Date to the Reset Date, the date that falls five (5) years and six (6) months after the Closing Date, and (b) in respect of the Rate of Interest from the Reset Date, the date that falls five (5) years after the Reset Date, as selected by the Principal Paying Agent.
Benchmark Treasury means actively traded U.S. Treasury securities with maturity on or closest to
Benchmark Treasury means direct obligations of the United States (which may be obligations traded on a when-issued basis only) having a maturity comparable to the remaining term to maturity of the Notes, as agreed upon by the Company and the Reset Agent. The rate for the Benchmark Treasury will be the bid side rate displayed at 10:00 a.m., New York City time, (i) in case of the first Initial Remarketing on the third Business Day immediately preceding May 17, 2004 and in the case of the Final Remarketing on the third Business day immediately preceding August 17, 2004, on the seventh Business Day immediately preceding the date of such remarketing, and (ii) and in the case of any Additional Remarketing on the fourth Business Day immediately preceding the date on which the Notes will be remarketed, in the Telerate system (or if the Telerate system is (a) no longer available on that date or (b) in the opinion of the Reset Agent (after consultation with the Company) no longer an appropriate system from which to obtain such rate, such other nationally recognized quotation system as, in the opinion of the Reset Agent (after consultation with the Company) is appropriate). If such rate is not so displayed, the rate for the Benchmark Treasury shall be, as calculated by the Reset Agent, the yield to maturity for the Benchmark Treasury, expressed as a bond equivalent on the basis of a year of 365 or 366 days, as applicable, and applied on a daily basis, and computed by taking the arithmetic mean of the secondary market bid rates, as of 10:30 a.m., New York City time, (i) in case of the first Initial Remarketing on the third Business Day immediately preceding May 17, 2004 and in the case of the Final Remarketing on the third Business Day immediately preceding August 17, 2004, on the seventh Business Day immediately preceding the date of such remarketing, and (ii) in the case of any Additional Remarketing, on the fourth Business Day immediately preceding the date of such Remarketing, as applicable, of three leading United States government securities dealers selected by the Reset Agent (after consultation with the Company) (which may include the Reset Agent or an Affiliate thereof).
Examples of Benchmark Treasury in a sentence
On the Reset Announcement Date the Reset Spread and the Two-Year Benchmark Treasury to be used to determine the Reset Rate will be announced by the Company.
On the Business Day immediately following the Reset Announcement Date, the Preferred Securities Holders will be notified of such Reset Spread and Two-Year Benchmark Treasury by the Company.
On the Business Day immediately following the Reset Announcement Date, the Holders of Securities will be notified of such Reset Spread and Two-Year Benchmark Treasury by the Sponsor.
On the applicable Reset Announcement Date, the Reset Spread and the Two-Year Benchmark Treasury or Two and One-Quarter Benchmark Treasury, as applicable, to be used to determine the Reset Rate will be announced by the Company.
On the Business Day immediately following the Reset Announcement Date, the Holders of Notes will be notified of such Reset Spread and Two-Year Benchmark Treasury or Two and One-Quarter Benchmark Treasury, as applicable, by the Company.
More Definitions of Benchmark Treasury
Benchmark Treasury. 2019 Notes: 1.500% due October 31, 2019 2022 Notes: 2.000% due October 31, 2022 2028 Notes: 2.250% due August 15, 2027 Benchmark Treasury Price/Yield: 2019 Notes: 99-26 / 1.596% 2022 Notes: 99-30 1/4 / 2.012% 2028 Notes: 98-29 / 2.376% Spread to Benchmark Treasury: 2019 Notes: +38 basis points 2022 Notes: +58 basis points 2028 Notes: +83 basis points Yield to Maturity: 2019 Notes: 1.976% 2022 Notes: 2.592% 2028 Notes: 3.206%
Benchmark Treasury means actively traded U.S. Treasury securities with maturity on or closest to (a) in the case of the Rate of Interest from [●] 2020 to the First Reset Date, the date that falls five (5) years and three (3) months after [●] 2020, and (b) in respect of the Rate of Interest from the First Reset Date or any subsequent Reset Date following the First Reset Date, the date that falls five (5) years after such First Reset Date or subsequent Reset Date, as the case may be, as selected by the Lender after consultation with the Borrower, and notified to the Calculation Agent.
Benchmark Treasury means actively traded U.S. Treasury securities with maturity on or about the Repayment Date, as selected by the Principal Paying Agent;
Benchmark Treasury the interpolated 9-year U.S. Treasury Note
Benchmark Treasury. 2028 Notes: UST 2.250% due November 15, 2027 2047 Notes: UST 2.750% due August 15, 2047 Benchmark Treasury Price & Yield: 2028 Notes: 97-15; 2.542% 2047 Notes: 97-15+; 2.877% Spread to Benchmark Treasury: 2028 Notes: + 140 basis points 2047 Notes: + 170 basis points Yield: 2028 Notes: 3.942% 2047 Notes: 4.577% Denominations: Initial denominations of US$2,000 and subsequent multiples of US$1,000 Covenants: Change of control (put @ 101%) Negative pledge Consolidation, merger, amalgamation and sale of substantial assets Redemption Provisions:
Benchmark Treasury. 2028 Notes: 4.375% due August 31, 2028 2030 Notes: 4.125% due August 31, 2030 2033 Notes: 3.875% due August 15, 2033 Benchmark Treasury Price/Yield: 2028 Notes: 99-30 ¼ / 4.387% 2030 Notes: 98-20 / 4.355% 2033 Notes: 96-25+ / 4.274% Spread to Benchmark Treasury: 2028 Notes: +105 basis points 2030 Notes: +135 basis points 2033 Notes: +160 basis points Yield to Maturity: 2028 Notes: 5.437% 2030 Notes: 5.705% 2033 Notes: 5.874%
Benchmark Treasury. T 2 12/31/21 Spread to Benchmark: 175bps Reoffer Yield: 3.684% Issue Price: 100% Underwriting Discount: 0.325% Net Proceeds: USD 1,495,125,000 Sole Bookrunner: Barclays Capital Inc. Co-managers: BB&T Capital Markets, a division of BB&T Securities, LLC; BBVA Securities Inc.; BNP Paribas Securities Corp.; BNY Mellon Capital Markets, LLC; CIBC World Markets Corp.; Credit Suisse Securities (USA) LLC; Great Pacific Securities; ING Financial Markets LLC; Lebenthal & Co, LLC.; Mizuho Securities USA Inc.; PNC Capital Markets LLC; Regions Securities LLC; Scotia Capital (USA) Inc.; Skandinaviska Enskilda Xxxxxx XX (publ); SMBC Nikko Securities America, Inc.; Standard Chartered Bank; SunTrust Xxxxxxxx Xxxxxxxx, Inc.; Telsey Advisory Group LLC; U.S. Bancorp Investments, Inc.; Xxxxx Fargo Securities, LLC