Compounded Daily XXXXX definition

Compounded Daily XXXXX means, in relation to an Interest Period, the rate of return of a daily compound interest investment (with the daily Sterling overnight reference rate as reference rate for the calculation of interest) and will be calculated by the Fiscal Agent or the Calculation Agent, as applicable, as follows, and the resulting percentage will be rounded, if necessary, to the fifth decimal place, with 0.000005 being rounded upwards: Where:

Compounded Daily XXXXX means, in relation to any Interest Period, the rate of return of a daily compound interest investment (with the daily Sterling overnight reference rate as the reference rate for the calculation of interest) and will be calculated by the Agent (or such other party responsible for the calculation of the Rate of Interest, as specified in the applicable Final Terms), as follows, and the resulting percentage will be rounded (if necessary) to the fifth decimal place, with 0.000005 being rounded upwards: d0 [‡ (1 + i=1 SONIAi–pLB × ni 365 ) − 1] × 365

Compounded Daily XXXXX means with respect to an Interest Accrual Period, the rate of return of a daily compound interest investment during the Observation Period corresponding to such Interest Accrual Period (with the daily Sterling overnight reference rate as reference rate for the calculation of interest) and will be calculated by the Calculation Agent (or such other party responsible for the calculation of the Rate of Interest, as specified in the Final Terms or Pricing Supplement) on the relevant Interest Determination Date, as follows, and the resulting percentage will be rounded, if necessary, to the fifth decimal place, with 0.000005 being rounded upwards: Where:

Examples of Compounded Daily XXXXX in a sentence

• The nascent development of Compounded Daily XXXXX as an interest reference rate for the Eurobond markets, as well as continued development of XXXXX-based rates for such markets and the market infrastructure for adopting such rates, could result in reduced liquidity or increased volatility or could otherwise affect the market price of any XXXXX-referenced Notes issued under the Programme from time to time.

• It may be difficult for investors in Notes which reference Compounded Daily XXXXX to estimate reliably the amount of interest which will be payable on such Notes, and some investors may be unable or unwilling to trade such Notes without changes to their IT or other operational systems, any of which could adversely impact the liquidity of such Notes.

• If these rate and spread calculation provisions of Notes which reference Compounded Daily XXXXX become applicable, this could result in adverse consequences to the amount of interest payable on such Notes, which could adversely affect the return on, value of, and market for, such Notes.

• In addition, if the rate of interest on Notes which reference Compounded Daily XXXXX cannot be determined using the Bank Rate, then the rate of interest will be that determined as at the last preceding Interest Determination Date, which would cause the rate of interest on such Notes to become fixed and could thereby adversely affect the return on, value of and market for such Notes.

• Further, if Compounded Daily XXXXX does not prove to be widely used in securities like the Notes, the trading price of such Notes linked to or referencing Compounded Daily XXXXX may be lower than those of Notes linked to indices that are more widely used.

More Definitions of Compounded Daily XXXXX

Compounded Daily XXXXX with respect to an Interest Period, will be calculated by the Calculation Agent on each Interest Determination Date in accordance with the following formula, and the resulting percentage will be rounded, if necessary, to the fourth decimal place, with 0.00005 being rounded upwards:

Compounded Daily XXXXX means, with respect to an Interest Accrual Period, the rate of return of a daily compound interest investment (with the daily Sterling overnight reference rate as reference rate for the calculation of interest) as calculated by the Issuing and Principal Paying Agent as at the relevant Interest Determination Date in accordance with the following formula (and the resulting percentage will be rounded if necessary to the nearest fifth decimal place, with 0.000005 being rounded upwards): where:

Compounded Daily XXXXX as the Reference Rate; and (3) “Index Determination” to be “Applicable”, the Rate of Interest for an Interest Period will, subject to Condition 3(b)(viii) (Benchmark Discontinuation) and as provided below, be the Compounded Daily XXXXX Index Rate with respect to such Interest Period plus or minus (as indicated in the applicable Final Terms) the applicable Margin (if any).

Compounded Daily XXXXX means, with respect to an Interest Accrual Period, the rate of return of a daily compound interest investment (with the daily XXXXX reference rate as reference rate for the calculation of interest) and will be calculated by the Issuing and Paying Agent (or such other party responsible for the calculation of the Rate of Interest, as specified in the applicable Final Terms Document or Pricing Supplement) on the relevant Interest Determination Date, as follows, and the resulting percentage will be rounded if necessary to the fourth decimal place, with 0.00005 per cent. being rounded upwards: Observation Lookback Convention: where: d is the number of calendar days in the relevant Interest Accrual Period; d0 is the number of London Banking Days in the relevant Interest Accrual Period; i is a series of whole numbers from one to do, each representing the relevant London Banking Day in chronological order from, and including, the first London Banking Day in the relevant Interest Accrual Period;

Compounded Daily XXXXX has the meaning given to it in Condition 5.03 (Interest on Floating Rate and Index-Linked Covered Bonds);

Compounded Daily XXXXX has the meaning given to that term in Condition 4.2(b)(ii) (Screen Rate Determination for Floating Rate Covered Bonds); Compounded SOFR means, for purposes of determining a replacement Benchmark pursuant to Clause 20.2(k) of the Trust Deed, the compounded average of SOFRs for the applicable corresponding tenor, with the rate, or methodology for this rate, and conventions for this rate (which, for example, may be compounded in arrears with a look-back and/or suspension period as a mechanism to determine the interest amount payable prior to the end of each interest period or compounded in advance) being established by the Designated Transaction Representative in accordance with:

Compounded Daily XXXXX means, in relation to a Funding 1 Interest Period, the rate of return of a daily compound interest investment (with the daily Sterling Overnight Index Average as the reference rate for the calculation of interest) and will be calculated by the Agent Bank (or such other party responsible for the calculation of the Loan Tranche Rate of Interest, as specified in the applicable Loan Tranche Supplement) on the Interest Determination Date (i) as further specified in the applicable Loan Tranche Supplement; or (ii) in accordance with the following formula, and the resulting percentage will be rounded if necessary to the fourth decimal place, with 0.00005 being rounded upwards: where: