Common use of Compounded Daily SOFR Clause in Contracts

Compounded Daily SOFR. Where Screen Rate Determination is specified for a Covered Bond in the applicable Final Terms Document as the manner in which the Rate of Interest is to be determined for such Covered Bond, and the Reference Rate is specified in the applicable Final Terms Document as being Compounded Daily SOFR, the Rate of Interest for each Interest Period will be Compounded Daily SOFR plus or minus (as indicated in the applicable Final Terms Document) the Margin (if any).

Compounded Daily SOFR. Where Screen Rate Determination is specified for a Floating Rate Covered Bond in the applicable Final Terms Document as the manner in which the Rate of Interest is to be determined for such Covered Bond, Bond and the Reference Rate is specified in the applicable Final Terms Document as being Compounded Daily SOFR, the Rate of Interest for each Interest Period will will, subject as provided below, be Compounded Daily SOFR plus or minus (as indicated in the applicable Final Terms Document) the Margin (if any).