Fixed to Floating Rate Notes definition
Examples of Fixed to Floating Rate Notes in a sentence
Subject to the adjustments set forth in this Section 2.3, the consideration to be paid by Purchaser to the Sellers for the Shares and the Purchased Assets is Thirty Nine Million Dollars ($39,000,000) ($29,000,000 of which is payable in cash by wire transfer of immediately available funds and $10,000,000 of which is payable pursuant to the SCT Note) (collectively, the "Purchase Price").
For the Floating Rate Notes and for each Interest Period of the Fixed to Floating Rate Notes falling in the Floating Rate Period, interest will be calculated on the basis of the actual number of days elapsed in the relevant Interest Period divided by 360 days.
The applicable Final Terms will indicate whether the Notes are (i) Fixed Rate Notes, (ii) Floating Rate Notes, (iii) Fixed to Floating Rate Notes, (iv) Zero Coupon Notes or (v) Notes linked to an underlying reference asset(s) such as Credit Linked Notes, Index Linked Notes, Fund Linked Notes, Equity Linked Notes, Inflation Linked Notes, Currency Linked Notes, Commodity Linked Notes, Bond Linked Notes, Future Linked Notes or any combination thereof.
The Fixed to Floating Rate Notes and the Floating Rate Notes will rank pari passu with each other for all purposes under the Indenture.
The Fixed to Floating Rate Notes and Floating Rate Notes together constitute the Offered Securities.
Interest payments on either the Fixed to Floating Rate Notes or the Floating Rate Notes will be made at the discretion of the Company, except (i) when the payment of interest is prohibited as a Prohibited Interest Payment or (ii) when the payment of interest is required as a Non-Discretionary Interest Payment.
Principal Amount: $1,250,000,000 as to the Fixed to Floating Rate Notes; and $750,000,000 as to the Floating Rate Notes.
For the Fixed to Floating Rate Notes in respect of each Interest Payment Date falling on or prior to the Reset Date, the amount of each interest payment payable in respect of each $2,000 in principal amount of the Fixed to Floating Rate Notes will be $58.60.
The Company may also elect to redeem either, or both, the Fixed to Floating Rate Notes or the Floating Rate Notes for cash, in whole but not in part prior to the Reset Date (i) at any time (in the case of the Fixed to Floating Rate Notes) and (ii) on Interest Payment Dates only (in the case of the Floating Rate Notes), in each case, upon the occurrence of a Tax Event or a Regulatory Event, as such terms are defined in the prospectus supplement and subject to the conditions set forth therein.
If at any time during the Fixed Rate Period interest is required to be calculated on the Fixed to Floating Rate Notes for a period of less than a full Interest Period, such interest will be calculated on the basis of a year of 360 days with twelve 30-day months and, in the case of an incomplete month, the actual number of days elapsed.