Examples of Floating Rate Coupon in a sentence
If the rate at which interest or coupon accrues on the Securities during the applicable Interest Period or Floating Rate Coupon Period, as the case may be, on any day or for any Interest Period or Floating Rate Coupon Period, as the case may be, or in respect of any interest determination date, declines to zero or becomes negative, no interest or coupon will be payable on the Securities with respect to that Interest Period or Floating Rate Coupon Period or the relevant payment date, as the case may be.
In any case, a Structured Floating Rate Coupon may be lower than market interest rates and lower than the rate of interest then payable by the Bank on other floating rate securities.
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The "Shift" approach weights the relevant risk-free rate according to the relevant number of days that apply in a separate observation period which 'shadows' the Interest Period or Floating Rate Coupon Period (e.g. the observation period might start and end five business days preceding the relevant start and end of the Interest Period or Floating Rate Coupon Period).
The "Lag" approach weights the relevant risk-free rate according to the number of days that apply in the relevant Interest Period or Floating Rate Coupon Period (as applicable).
In any case, an Inverse Floating Rate Coupon may be lower than market interest rates and lower than the rate of interest payable by the relevant Issuer on other floating rate securities.
Where SONIA Floating Rate Determination (Non-Index Determination) or SOFR Floating Rate Determination is specified in the applicable Pricing Supplement asthe manner in which theRate of Interest or Floating Rate Coupon (as applicable) is to be determined and, in respect of SOFR Floating Rate Determination, Index Determination is specified to be not applicable in the applicable Pricing Supplement, either "Shift" or "Lag" will be specified as applicable.
Where any Floating Rate Coupon Payment Date or Floating Rate Coupon Period is subject to adjustment in accordance with the applicable Business Day Convention, the Coupon Amounts and the Floating Rate Coupon Payment Date so published may subsequently be amended (or appropriate alternative arrangements made by way of adjustment) without notice in the event of an extension or shortening of the Floating Rate Coupon Period.
In any case, a Structured Floating Rate Coupon may be lower than market interest rates and lower than the rate of interest then payable by the relevant Issuer on other floating rate securities.
This risk is reduced by swapping principal and interest back into the functional currency of the issuer.