SONIA Compounded Index means the index known as the SONIA Compounded Index administered by the Bank of England (or any successor administrator thereof);
SONIA Compounded Index means the Compounded Daily SONIA rate as published at 10:00 (London time) by the Bank of England (or a successor administrator of SONIA) on the Bank of England's Interactive Statistical Database, or any successor source;
SONIA Compounded Index means, with respect to any London banking day, the SONIA Compounded Index value as published at 10:00 a.m., London time, by the BoE (or a successor administrator thereof), on the BoE’s Interactive Statistical Database, or any successor source, on such London banking day. If SONIA Compounded IndexStart or SONIA Compounded IndexEnd is not published or otherwise is not available on the relevant interest determination date, “compounded SONIA” will mean, for the applicable interest period for which such index is not available, the rate of return on a daily compounded interest investment calculated in accordance with the formula set forth above under “—Observation Period Convention” as if the applicable supplement had specified “observation period convention” to be applicable to the notes, rather than “SONIA Compounded Index convention.”
Examples of SONIA Compounded Index in a sentence
The press release refers to the rate initially being " based on the SONIA compounded reference rate but will track the Bank of England's published SONIA Compounded Index, when available…".
However, note that the currently published SONIA Compounded Index is based on observation shift, which is not the convention in this loan.
The Issuer may in future also issue notes referencing SONIA, the SONIA Compounded Index, SOFR, the SOFR Compounded Index, €STR or the €STR Compounded Index that differ materially in terms of interest determination when compared with any previous SONIA, the SONIA Compounded Index, SOFR, the SOFR Compounded Index, €STR or the €STR Compounded Index referenced Notes issued by it under this Base Prospectus.
For example, on 2 March 2020, the Federal Reserve Bank of New York, as administrator of SOFR, began publishing the SOFR Compounded Index and on 3 August 2020, the Bank of England, as administrator of SONIA, began publishing the SONIA Compounded Index.
Such alternative methods may result in interest payments that are lower than, or do not otherwise correlate over time with, the payments that would have been made on such Floating Rate Notes if SONIA and/or the SONIA Compounded Index had been provided by the Bank of England in its current form.
More Definitions of SONIA Compounded Index
SONIA Compounded Index means, in respect of any London Banking Day, the compounded daily SONIA rate for such London Banking Day as published by the Bank of England (or a successor administrator of SONIA) on the Bank of England's Interactive Statistical Database, or any successor source, at the Specified Time on such London Banking Day;
SONIA Compounded Index means the screen rate or index for compounded daily SONIA rates administered by the administrator of the SONIA reference rate that is published or displayed by such administrator or other information service from time to time on the relevant Interest Determination Date, as further specified in the applicable Final Terms;
SONIA Compounded Index means the compounded daily SONIA rate as published at 10:00 (London time) by the Bank of England (or a successor administrator of SONIA) on the Bank of England's Interactive Statistical Database, or any successor source.Provided that a Benchmark Event has not occurred in respect of SONIA or a Benchmark Transition Event and its related Benchmark Replacement Date has not occurred in respect of SOFR, as the case may be, if, with respect to any Interest Period, the relevant Compounded Index Start and/or Compounded Index End is not published by the administrator, the Principal Paying Agent shall calculate the Rate of Interest for that Interest Period in accordance with Condition 3(b)(ii)(C) (Interest on Floating Rate Notes – Rate of Interest – Screen Rate Determination for Floating Rate Notes which reference SONIA, SOFR or €STR) as if Index Determination was not specified in the relevant Final Terms as being applicable. For these purposes, (i) the Reference Rate shall be deemed to be SONIA in the case of SONIA Compounded Index and SOFR in the case of Compounded SOFR Index, (ii) the Calculation Method shall be deemed to be Compounded Daily, (iii) the Observation Method shall be deemed to be Observation Shift, (iv) the Observation Look- back Period shall be deemed to be the Relevant Number, (v) D shall be deemed to be the Numerator and (vi) in the case of SONIA, the Relevant Screen Page will be determined by the Issuer in consultation with the Principal Paying Agent. If (X) a Benchmark Event has occurred in respect of SONIA, the provisions of Condition 3(d) (Interest – Benchmark Discontinuation) shall apply mutatis mutandis in respect of this Condition 3(b)(ii)(C) and(Y) if a Benchmark Transition Event and its related Benchmark Replacement Date have occurred in respect of SOFR, the provisions of Condition 3(e) (Interest – Effect of Benchmark Transition Event) shall apply mutatis mutandis in respect of this Condition 3(b)(ii)(C).
SONIA Compounded Index means the rate of return of a compounded average interest investment (with the SONIA (as defined below) as reference rate for the calculation of interest) and will be calculated by the Calculation Agent on the Interest Determination Date, as follows:
SONIA Compounded Index means, with respect to any London Banking Day, the value of the SONIA Compounded Index that is provided by the administrator of the SONIA reference rate to authorised distributors and as then published on the Relevant Screen Page (or, if the Relevant Screen Page is unavailable, as otherwise published by such authorised distributors) in respect of such London Banking Day. If the relevant SONIA Compounded Index is not published or displayed by the administrator of the SONIA reference rate or other information service at the Relevant Time specified in the relevant Final Terms on the relevant Interest Determination Date, the SONIA Compounded Index Rate for the applicable Interest Period for which the SONIA Compounded Index is not available shall be the "Compounded Daily SONIA Formula Rate" determined in accordance with the foregoing as if the Reference Rate specified in the relevant Final Terms were "Compounded Daily SONIA Formula" (and not "SONIA Index Determination"), and for these purposes: (i) the "Observation Method" shall be deemed to be "Observation Shift", and(ii) the "Observation Shift Period" shall be deemed to be equal to the Relevant Number of London Banking Days, as if those alternative elections had been made in the relevant Final Terms.
SONIA Compounded Index means, with respect to any London Banking Day, the value of the SONIA Compounded Index that is provided by the administrator of the SONIA reference rate to authorised distributors and as then published on the Relevant Screen Page (or, if the Relevant Screen Page is unavailable, as otherwise published by such authorised distributors) in respect of such London Banking Day.
SONIA Compounded Index means the Compounded SONIA Index value as published at 12.30