USD Compounded SOFR definition
USD Compounded SOFR means, for an Interest Period, the rate of return of a daily compound interest investment (it being understood that the reference rate for the calculation of interest is SOFR), calculated in accordance with the formula set forth below, rounded, if necessary, to the nearest fifth decimal place, with 0.000005 per cent. being rounded upwards to the nearest one hundred-thousandth of a percentage point:
Examples of USD Compounded SOFR in a sentence
The interest to be paid on the Class A Notes on the first Interest Payment Date shall be based on the USD Compounded SOFR Index five U.S. Government Securities Business Days preceding the last day of the initial Interest Period plus 0.68% per annum.
The interest to be paid on the Class A Notes on the first Interest Payment Date shall be based on the USD Compounded SOFR Index five U.S. Government Securities Business Days preceding the last day of the initial Interest Period plus 0.85% per annum.