Common use of ISDA Determination for Floating Rate Notes Clause in Contracts

ISDA Determination for Floating Rate Notes. Where ISDA Determination is specified in the applicable Final Terms as the manner in which the Rate of Interest is to be determined, the Rate of Interest for each Interest Period will be the relevant ISDA Rate plus or minus (as specified in the applicable Final Terms) the Margin (if any). For the purposes of this sub-paragraph (i), ISDA Rate for an Interest Period means a rate equal to the Floating Rate that would be determined by the Fiscal Agent or the Calculation Agent, as applicable, under an interest rate swap transaction if the Fiscal Agent or the Calculation Agent, as applicable, were acting as Calculation Agent (as defined in the ISDA Definitions (as defined below)) for that swap transaction under the terms of an agreement incorporating the 2006 ISDA Definitions, as amended and updated as at the Issue Date of the first Tranche of the Notes, published by the International Swaps and Derivatives Association, Inc. (the ISDA Definitions) and under which: (a) the Floating Rate Option is as specified in the applicable Final Terms; (b) the Designated Maturity is a period specified in the applicable Final Terms; and (c) the relevant Reset Date is the day specified in the applicable Final Terms. For the purposes of this sub-paragraph (i), Floating Rate, Floating Rate Option, Designated Maturity and Unless otherwise stated in the applicable Final Terms, the Minimum Rate of Interest shall be deemed to be zero.

ISDA Determination for Floating Rate Notes. Where ISDA Determination is specified in the applicable Final Terms as the manner in which the Rate of Interest is to be determined, the Rate of Interest for each Interest Period will be the relevant ISDA Rate plus or minus (as specified indicated in the applicable Final Terms) the Margin (if any). For the purposes of this sub-paragraph (iA), ISDA Rate for an Interest Period means a rate equal to the Floating Rate that would be determined by the Fiscal Principal Paying Agent or the Calculation Agent, as applicable, under an interest rate swap transaction if the Fiscal Principal Paying Agent or the Calculation Agent, as applicable, were acting as Calculation Agent (as defined in the ISDA Definitions (as defined below)) for that swap transaction under the terms of an agreement incorporating the 2006 ISDA Definitions, as published by the International Swaps and Derivatives Association, Inc. and as amended and updated as at the Issue Date of the first Tranche of the Notes, published by the International Swaps and Derivatives Association, Inc. Notes (the ISDA Definitions) and under which: (a1) the Floating Rate Option is as specified in the applicable Final Terms; (b2) the Designated Maturity is a period specified in the applicable Final Terms; and (c3) the relevant Reset Date is the day specified in the applicable Final Terms. For the purposes of this sub-paragraph (iA), Floating Rate, Floating Rate Option, Designated Maturity and Unless otherwise stated Reset Date have the meanings given to those terms in the ISDA Definitions. If no Minimum Rate of Interest is specified in the applicable Final TermsTerms (or Pricing Supplement, in the case of Exempt Notes) the Minimum Rate of Interest shall be deemed to be zero.