SOFR / Lookback definition
SOFR / Lookback means; such rate calculated in the formula of; the daily cumulative compounded value of SOFR for the relevant Interest Period calculated using the method of referring to the confirmed value published by Federal Reserve Bank of New York (or any other person which takes over the administration of that rate) as SOFR as of the Value Date on the US Government Securities Business Day immediately succeeding the Value Date ÷ Number of days during the relevant Interest Period * 360 (rounded off to the fifth decimal places), provided that a Non-US Government Securities Business Day in an Interest Period shall not be included for compound calculation.