Terms of the Floating Rate Notes Sample Clauses

The 'Terms of the Floating Rate Notes' clause defines the specific conditions and features governing the issuance and management of floating rate notes, which are debt instruments with variable interest rates. This clause typically outlines how the interest rate is determined—often by referencing a benchmark rate such as LIBOR or SOFR plus a margin—and details the frequency of interest payments, maturity date, and any provisions for early redemption. By clearly specifying these terms, the clause ensures both issuer and investors understand the financial mechanics and obligations associated with the notes, thereby reducing uncertainty and facilitating smooth administration of the debt instrument.
Terms of the Floating Rate Notes. The following terms relating to the Floating Rate Notes are hereby established pursuant to Section 3.01 of the Base Second Ranking Senior Indenture: (a) The title of the Floating Rate Notes shall be: the Series 25 Senior Non Preferred Floating Rate Notes due 2023; (b) the price at which the Floating Rate Notes shall be issued is 100.000% of the principal amount thereof; (c) The aggregate principal amount of the Floating Rate Notes that may be authenticated and delivered under the Senior Non Preferred Indenture shall not exceed $500,000,000, except as otherwise provided in the Senior Non Preferred Indenture, including Section 2.03(t) hereof; (d) Principal on the Floating Rate Notes shall be payable on February 23, 2023 (the “Floating Rate Notes Maturity Date” and, together with the 2023 Fixed Rate Maturity Date and the 2028 Fixed Rate Maturity Date, a ‘Maturity Date”); (e) The Floating Rate Notes shall be issued in global registered form on October 23, 2017 and shall bear interest from and including October 23, 2017 payable quarterly in arrears on February 23, May 23, August 23 and November 23 (each, a “Floating Rate Note Interest Payment Date” and, together with the 2023 Fixed Rate Interest Payment Date and the 2028 Fixed Rate Interest Payment Date, an “Interest Payment Date” ), commencing November 23, 2017. The Floating Rate Notes shall bear interest at a floating rate determined in the manner provided below. The Regular Record Dates for the Floating Rate Notes will be 15 calendar days immediately preceding the relevant Floating Rate Note Interest Payment Date, whether or not a Business Day; provided, however, that interest payable on the maturity date or any redemption date shall be payable to the person to whom the principal of such Floating Rate Notes shall be payable. If any Floating Rate Notes Interest Payment Date (other than the Floating Rate Notes Maturity Date or any redemption date) falls on a day that is not a Business Day, the Floating Rate Notes Interest Payment Date will be postponed to the next succeeding Business Day and interest will accrue to but excluding such Floating Rate Notes Interest Payment Date, except that if such Business Day falls in the next succeeding calendar month, the applicable Floating Rate Notes Interest Payment Date will be the immediately preceding Business Day. If the maturity date or any redemption date of the Floating Rate Notes falls on a day that is not a Business Day, the payment of principal, premium and Addit...
View SourceView Similar (16)

Related to Terms of the Floating Rate Notes

  • Floating Rate Notes If this Note is specified on the face hereof as a “Floating Rate Note”:

  • Fixed Rate Notes If this Note is specified on the face hereof as a “Fixed Rate Note”: (i) This Note will bear interest at the rate per annum specified on the face hereof. Interest on this Note will be computed on the basis of a 360-day year of twelve 30-day months. (ii) Unless otherwise specified on the face hereof, the Interest Payment Dates for this Note will be as follows:

  • Floating Rate/Fixed Rate Notes If this Note is specified on the face hereof as a “Floating Rate/Fixed Rate Note”, this Note will bear interest at the rate determined by reference to the applicable Interest Rate Basis or Interest Rate Bases: (1) plus or minus the applicable Spread, if any; and/or (2) multiplied by the applicable Spread Multiplier, if any. Commencing on the first Interest Reset Date, the rate at which this Floating Rate/Fixed Rate Note is payable will be reset as of each Interest Reset Date; provided, however, that: (A) the interest rate in effect for the period, if any, from the Original Issue Date to the first Interest Reset Date will be the Initial Interest Rate specified on the face hereof; and (B) the interest rate in effect commencing on the Fixed Rate Commencement Date will be the Fixed Interest Rate, if specified on the face hereof, or, if not so specified, the interest rate in effect on the day immediately preceding the Fixed Rate Commencement Date.

  • Regular Floating Rate Note Unless this Note is specified on the face hereof as a Floating Rate/Fixed Rate Note, this Note (a “Regular Floating Rate Note”) will bear interest at the rate determined by reference to the applicable Interest Rate Basis or Interest Rate Bases: (1) plus or minus the applicable Spread, if any; and/or (2) multiplied by the applicable Spread Multiplier, if any. Commencing on the first Interest Reset Date, the rate at which interest on this Regular Floating Rate Note is payable will be reset as of each Interest Reset Date; provided, however, that the interest rate in effect for the period, if any, from the Original Issue Date to the first Interest Reset Date will be the Initial Interest Rate.

  • CD Rate Notes If the Interest Rate Basis is the CD Rate, this Note shall be deemed a “CD Rate Note.” Unless otherwise specified on the face hereof, “CD Rate” means: (1) the rate on the particular Interest Determination Date for negotiable United States dollar certificates of deposit having the Index Maturity specified on the face hereof as published in H.15(519) (as defined below) under the caption “CDs (secondary market)”; or (2) if the rate referred to in clause (1) is not so published by 3:00 P.M., New York City time, on the related Calculation Date, the rate on the particular Interest Determination Date for negotiable United States dollar certificates of deposit of the particular Index Maturity as published in H.15 Daily Update (as defined below), or other recognized electronic source used for the purpose of displaying the applicable rate, under the caption “CDs (secondary market)”; or (3) if the rate referred to in clause (2) is not so published by 3:00 P.M., New York City time, on the related Calculation Date, the rate on