Compounded Daily €STR definition

Compounded Daily €STR means, with respect to any Interest Period, the rate of return of a daily compound interest investment (with the daily euro short-term rate as reference rate for the calculation of interest) as calculated by the Calculation Agent as at the relevant Interest Determination Date in accordance with the following formula (and the resulting percentage will be rounded if necessary to the nearest fifth decimal place, with 0.000005 being rounded upwards):

Compounded Daily €STR means, with respect to an Interest Period, the rate of return of a daily compound interest investment (with the daily euro short-term rate as reference rate for the calculation of interest) and will be calculated by the Calculation Agent on the Interest Determination Date as follows, and the resulting percentage will be rounded, if necessary, to the fourth decimal place, with each 0.00005 per cent. being rounded upwards:

Compounded Daily €STR means, with respect to an Interest Accrual Period, the rate of return of a daily compound interest investment during the Observation Period corresponding to such Interest Accrual Period (with the daily euro short-term rate as the reference rate of the calculation of interest) and will be calculated by the Calculation Agent on the Interest Determination Date, as follows, and the resulting percentage will be rounded if necessary to the fifth decimal place, with 0.000005 being rounded upwards:

Examples of Compounded Daily €STR in a sentence

• It may be difficult for investors in Securities which reference Compounded Daily €STR to estimate reliably the amount of coupon which will be payable on such Securities, and some investors may be unable or unwilling to trade such Securities without changes to their IT systems, both of which factors could adversely impact the liquidity of such Securities.

• Furthermore, the Coupon Rate on Securities which reference Compounded Daily €STR is only capable of being determined at the end of the relevant Coupon Period prior to the relevant Coupon Payment Date.

• Where the applicable Issue Terms for a Series of Floating Rate Securities identifies that the Coupon Rate for such Securities will be determined by reference to €STR, the Coupon Rate will be determined on the basis of Compounded Daily €STR.

• The development of Compounded Daily €STR as interest reference rates for the Eurobond markets, as well as continued development of €STR-based rates for such markets and the market infrastructure for adopting such rates, could result in reduced liquidity or increased volatility or could otherwise affect the market price of any €STR-referenced Securities issued under the Programme from time to time.

• Investors should carefully consider how any mismatch between the adoption of €STR reference rates across these markets may impact any hedging or other financial arrangements which they may put in place in connection with any acquisition, holding or disposal of Securities referencing Compounded Daily €STR.

More Definitions of Compounded Daily €STR

Compounded Daily €STR means the rate of return of a daily compound interest investment (with the daily Euro short-term rate as reference rate for the calculation of interest) and will be calculated by the [Calculation Agent] [●] on the Interest Determination Date, pursuant to the following formula:

Compounded Daily €STR means, with respect to an Interest Period, the rate of return of a daily compound interest investment during the Observation Period corresponding to such Interest Period (with the daily euro short-term rate as the reference rate for the calculation of interest) and will be calculated by the Agent as at the relevant Interest Determination Date, as follows (the resulting percentage will be rounded, if necessary, to the fourth decimal place, with 0.00005 being rounded upwards): where:

Compounded Daily €STR means with respect to an Interest Period, the rate of return of a daily compound interest investment in euro (with the daily euro short-term rate (€STR) as reference rate for the calculation of interest) and will be calculated as follows:

Compounded Daily €STR means, with respect to an Interest Period, the interest rate of return of a daily compound interest investment (with the daily

Compounded Daily €STR means the rate of return of a daily compound interest investment (with the daily Euro short-term rate as the reference rate for the calculation of interest) calculated in accordance with the formula below and the resulting percentage being rounded, if necessary, to the nearest ten- thousandth of a percentage point, with 0.00005 being rounded upwards:

Compounded Daily €STR means, in relation to an Interest Period, the rate of return of a daily compound interest investment (with the daily euro short-term rate as the reference rate for the calculation of interest) and will be calculated by the Calculation Agent (or the person specified in the applicable Final Terms as the party responsible for calculating the Rate of Interest) on the Interest Determination Date in accordance with the following formula, and the resulting percentage will be rounded, if necessary, to the fifth decimal place, with 0.000005 being rounded upwards:

Compounded Daily €STR means, with respect to an Interest Accrual Period, the rate of return of a daily compound interest investment (with the reference rate for the calculation of interest being the daily Euro Short-Term (€STR) reference rate) calculated in accordance with the formula set forth below by the Calculation Agent (or such other party responsible for the calculation of the Interest Rate, as specified hereon) as at the relevant Interest Determination Date: