Interest on Fixed Rate Notes definition

Interest on Fixed Rate Notes. Each Fixed Rate Note bears interest on its outstanding nominal amount from the Interest Commencement Date at the rate per annum (expressed as a percentage) equal to the Rate of Interest, such interest being payable in arrears on each Interest Payment Date. The amount of interest payable shall be determined in accordance with Condition 4(g) (Calculations) below. (i) Instalment Notes: in respect of Fixed Rate Notes that are also Instalment Notes, in the event that an Instalment Date (or, if later, the Relevant Date in respect of an Instalment Amount) falls on a date other than an Interest Payment Date, the interest payable in respect of the Interest Period in which such Instalment Date (or, if later, the Relevant Date in respect of such Instalment Amount) falls shall be calculated as follows: (A) in respect of the period from (and including) the Interest Payment Date (or Interest Commencement Date) immediately preceding the first Instalment Date (or, if later, Relevant Date in respect of the relevant Instalment Amount) falling in the Interest Period (the "First Instalment Date") to (but excluding) the First Instalment Date interest shall be calculated in accordance with the provisions of this Condition 4(a) on the basis of the outstanding nominal amount as of the Business Day preceding the relevant First Instalment Date; and (B) in respect of any period from (and including) an Instalment Date (or, if later, Relevant Date in respect of such Instalment Amount) (the "Initial Instalment Date") to (but excluding) the earlier of (i) the Interest Payment Date following the Initial Instalment Date or (ii) a further Instalment Date (or, if later, Relevant Date in respect of such Instalment Amount) falling in the same Interest Period, interest shall be calculated in accordance with the provisions of this Condition 4(a) on the basis of the outstanding nominal amount as adjusted following the Initial Instalment Date.

Interest on Fixed Rate Notes. Each Fixed Rate Note bears interest on its outstanding principal amount from the Interest Commencement Date at the rate per annum (expressed as a percentage) equal to the Rate of Interest, such interest being payable in arrear on each Interest Payment Date. If a Fixed Coupon Amount or a Broken Amount is specified hereon, the amount of interest payable on each Interest Payment Date will amount to the Fixed Coupon Amount or, if applicable, the Broken Amount so specified and in the case of the Broken Amount will be payable on the particular Interest Payment Date(s) specified hereon.

Interest on Fixed Rate Notes. (including payments for partial periods) will be computed and paid on the basis of a 360-day year of twelve 30-day months and will not accrue on the 31st day of any month. Interest will be payable to the person in whose name the Note is registered at the close of business on April 15 or October 15, (whether or not such date is a Business Day) with respect to -B3- Fixed Rate Notes or the fifteenth day (whether or not a Business Day) with respect to Floating Rate Notes (the "Record Dates"), next preceding the respective Interest Payment Date; provided, however, that interest payable at Stated Maturity and, if applicable, upon redemption or repurchase will be payable to the person to whom principal shall be payable. The first payment of interest on any Note originally issued between a Record Date and an Interest Payment Date will be made on the Interest Payment Date following the next succeeding Record Date. All interest payments (excluding interest payments made at Stated Maturity and, if applicable, upon redemption and repurchase) will be made by check mailed to the person entitled thereto as provided above; except that holders of over $5 million in principal amount of the Notes may receive interest payments by wire upon at least one Business Day's written notice to the Bank. On the fifth Business Day immediately preceding each Interest Payment Date, the Bank will furnish the Company with the total amount of the interest payments to be made on such Interest Payment Date. The Bank will provide monthly to the Company's Financial Services Unit a list of the principal and interest to be paid on Notes maturing in the next succeeding month. On the Interest Payment Date (unless the Interest Payment Date is not a Business Day, then the immediately succeeding Business Day), the Company will transfer to the Bank, via the Federal Reserve wire system, immediately available funds sufficient to make such interest payments. The Bank will assume responsibility for withholding taxes on interest paid as required by law.

Interest on Fixed Rate Notes. Each Fixed Rate Note bears interest on its outstanding nominal amount from the Interest Commencement Date at the rate per annum (expressed as a percentage) equal to the Rate of Interest, such interest being payable in arrear on each Interest Payment Date. If a Fixed Coupon Amount or a Broken Amount is specified in the relevant Offering Circular Supplement, the amount of interest payable on each Interest Payment Date will amount to the Fixed Coupon Amount or, if applicable, the Broken Amount so specified and in the case of the Broken Amount will be payable on the particular Interest Payment Date(s) specified in the relevant Offering Circular Supplement.