CMS Rate definition

CMS Rate means the applicable swap rate for swap transactions in the Reference Currency with a maturity of the Designated Maturity, expressed as a percentage, which appears on the Relevant Screen Page as at the Specified Time on the relevant Interest Determination Date in question, all as determined by the Calculation Agent.
CMS Rate means, on any day during an interest payment period, the rate for U.S. dollar swaps with a maturity for a specified number of years, in the applicable pricing supplement, expressed as a percentage, which appears on Reuters screen “ISDAFIX1” page as of 11:00 a.m., New York City time, on the related reference rate determination date.
CMS Rate means, with respect to any Reset Date:

Examples of CMS Rate in a sentence

  • If at least three of the CMS Reference Banks provide the Issuer or an agent appointed by it with such quotation, the CMS Rate for such Interest Period shall be the arithmetic mean of such quotations, eliminating the highest quotation (or, in the event of equality, one of the highest) and the lowest quotation (or, in the event of equality, one of the lowest).

  • If at least three of the CMS Reference Banks provide the Calculation Agent with such quotation, the CMS Rate for such Interest Period shall be the arithmetic mean of such quotations, eliminating the highest quotation (or, in the event of equality, one of the highest) and the lowest quotation (or, in the event of equality, one of the lowest).

  • Leverage x Min [Max (CMS Rate + Margin; Floor); Cap] If the Relevant Screen Page is not available, the Calculation Agent shall request each of the CMS Reference Banks to provide the Calculation Agent with its quotation for the Relevant Swap Rate at approximately 11.00 a.m. (local time in the Principal Financial Centre of the Specified Currency) on the Interest Determination Date in question.

  • If on any Interest Determination Date less than three or none of the CMS Reference Banks provides the Issuer or an agent appointed by it with such quotations as provided in the preceding paragraph, the CMS Rate shall be determined by the Issuer or an agent appointed by it in good faith on such commercial basis as considered appropriate in its absolute discretion, in accordance with standard market practice.

  • In the case of Exempt Notes which are also Floating Rate Notes where the applicable Pricing Supplement identifies that Screen Rate Determination or CMS Rate Determination applies to the calculation of interest, if the Reference Rate from time to time is specified in the applicable Pricing Supplement as being other than EURIBOR or CMS Reference Rate, the Rate of Interest in respect of such Exempt Notes will be determined as provided in the applicable Pricing Supplement.


More Definitions of CMS Rate

CMS Rate means the applicable swap rate for swap transactions in the Reference Currency with a maturity of the Designated Maturity, expressed as a percentage, as published on Reuters Page ICESWAP2, Euribor basis, fixed at 11:00 AM CET on the relevant Determination Date, all as determined by the Calculation Agent. If the Relevant Screen Page is not available, the Calculation Agent shall in consultation with the Issuer request each of the Reference Banks to provide the Calculation Agent with its quotation for the Relevant Swap Rate at approximately the Specified Time on the Interest Determination Date in question. If at least three of the Reference Banks provide the Calculation Agent with such quotation, the CMS Rate for such Interest Period shall be the arithmetic mean of such quotations, eliminating the highest quotation (or, in the event of equality, one of the highest) and the lowest quotation (or, in the event of equality, one of the lowest). If on any Interest Determination Date less than three or none of the Reference Banks provides the Calculation Agent with such quotations as provided in the preceding paragraph, the Issuer or one of its affiliates will determine a substitute or successor based rate after consulting any source it deems to be reasonable. Unless otherwise stated in the applicable Final Terms the Minimum Rate of Interest shall be deemed to be zero;
CMS Rate. The rate determined by the Calculation Agent in accordance with Section 2.07(i)(N).
CMS Rate means the applicable swap rate for swap transactions in the Reference Currency with a maturity of the Designated Maturity, expressed as a percentage, which appears on the Relevant Screen Page as of the specified time on the Interest Determination Date in question, all as determined by the Calculation Agent. The Agency Agreement contains provisions for determining the Rate of Interest in the event that the Relevant Screen Page is not available; and
CMS Rate means the applicable swap rate for swap transactions in the Reference Currency with a maturity of the Designated Maturity, expressed as a percentage, which appears on the Relevant Screen Page as at the Specified Time.
CMS Rate means, unless otherwise specified in the relevant Condition, the relevant Reference Rate(s) or Floating Rate Option(s) specified in the relevant Final Terms.
CMS Rate means the interest rate available on a particular day for an Interest Rate Swap for a specified term to the maturity date thereof.
CMS Rate means the CHF CMS Rate, the EUR CMS Rate, the GBP CMS Rate, the JPY CMS Rate or the USD CMS Rate, as specified in the applicable Pricing Supplement. The following procedures will apply if the rate cannot be set as described above, unless otherwise specified in the applicable Pricing Supplement: