Compounded SARON definition
Compounded SARON means, with respect to an Interest Period, the rate of return of a daily compound SARON interest investment as calculated by the Fiscal 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 SARON means, with respect to an Interest Period, the rate (expressed as a percentage and rounded if necessary to the sixth decimal place, with 0.0000005 being rounded upwards) determined in accordance with the following formula by the Agent or, where the applicable Final Terms specifies a Calculation Agent, the Calculation Agent: where:
Compounded SARON means, in respect of an Interest Period for a Compounded Rate Loan, the SARON as compounded for the Observation Period, but using weightings according to the number of days in the Interest Period (i.e. using a lookback with a five SIX Business Days lag methodology). It is expressed as a percentage rate per annum determined by the Agent in accordance with the following formula (and the resulting percentage will be rounded, if necessary, to the nearest one ten-thousandth of a percentage point, with 0.00005 being rounded upwards):
Examples of Compounded SARON in a sentence
If the applicable Compounded SARON is less than zero, the applicable Compounded SARON shall be deemed zero.
More Definitions of Compounded SARON
Compounded SARON means, with respect to an Interest Accrual Period, the rate determined by the Calculation Agent in accordance with the following formula:
Compounded SARON means, with respect to an Interest Accrual Period, the rate determined by the Calculation Agent in accordance with the following formula: 𝑆𝐴𝑅𝑂𝑁 𝐶𝑜𝑚𝑝𝑜𝑢𝑘𝑑𝑒𝑑 𝐼𝑘𝑑𝑒𝑥 𝐸𝑛𝑑 𝑆𝑡𝑎𝑟𝑡 (𝑆𝐴𝑅𝑂𝑁 𝐶𝑜𝑚𝑝𝑜𝑢𝑘𝑑𝑒𝑑 𝐼𝑘𝑑𝑒𝑥 𝐷 – 1) 𝑥 𝑑 and the resulting percentage will be rounded, if necessary, to the sixth decimal place, plus or minus (as indicated in the applicable Final Terms) the Margin and will be calculated by the Calculation Agent on the relevant Interest Determination Date where: