Examples of U.S. Prime Rate in a sentence
Variable rate loans to the portfolio companies bear interest at a rate that is determined by reference to either LIBOR (“L”) or an alternate base rate (commonly based on the Federal Funds Rate (“F”) or the U.S. Prime Rate (“P”)), which generally resets periodically.
The Index is the U.S. Prime Rate published in the “Money Rates” section of The Wall Street Journal on the last business day of the calendar month preceding the month in which the billing period begins.
If the U.S. Prime Rate is no longer published or is not available, we may select a similar index.
If the APR changes due to a change in the U.S. Prime Rate, the new APR will apply as of the first day of your Billing Cycle.
After the introductory rates or any other promotional rates expire, the remaining balances will be subject to the applicable Standard or Standard Variable APR terms.• How We Calculate Your Standard Variable APRs. If your Account is subject to Standard Variable APR, the APR is a variable rate based on the U.S. Prime Rate plus the applicable "Margin".