Common use of Interest on Fixed Rate Covered Bonds Clause in Contracts

Interest on Fixed Rate Covered Bonds. Each Fixed Rate Covered Bond bears interest on its Principal Amount Outstanding, but subject to Condition 4.3 (Interest following a Notice to Pay) from (and including) the Interest Commencement Date at the rate(s) per annum equal to the Rate(s) of Interest. Interest will be payable, subject as provided in these Terms and Conditions, in arrears on the Interest Payment Date(s) in each year up to (and including) the Final Maturity Date. If the Covered Bonds are in definitive form, except as provided in the applicable Final Terms Document or Pricing Supplement, the amount of interest payable on each Interest Payment Date in respect of the Interest Period (as defined in Condition 4.5 (Business Day, Business Day Convention, Day Count Fractions and other adjustments)) ending on (but excluding) such date will amount to the Fixed Coupon Amount. Payments of interest on any Interest Payment Date will, if so specified in the applicable Final Terms Document or Pricing Supplement, include an amount which may be paid in addition to the interest payment on such Interest Payment Date, if so specified (the Broken Amount). Except in the case of Covered Bonds in definitive form where a “Fixed Coupon Amount” or “Broken Amount” is specified in the applicable Final Terms Document or Pricing Supplement, interest will be calculated in respect of any period by applying the Rate of Interest to (i) in the case of Fixed Rate Covered Bonds which are represented by a Global Covered Bond, the aggregate outstanding nominal amount of the Fixed Rate Covered Bonds represented by such Global Covered Bond, or (ii) in the case of Fixed Rate Covered Bonds in definitive form, the Calculation Amount; and in each case, multiplying such sum by the applicable Day Count Fraction, and rounding the resultant figure to the nearest sub-unit of the relevant Specified Currency, half of any such sub-unit being rounded upwards or otherwise in accordance with applicable market convention. Where the Specified Denomination of a Fixed Rate Covered Bond in definitive form comprises more than one Calculation Amount, the amount of interest payable in respect of such Fixed Rate Covered Bond will be the aggregate of the amounts (determined in the manner provided above) for each Calculation Amount comprising the Specified Denomination without any further rounding. The applicable Final Terms Document or Pricing Supplement may provide that if the payment of the Final Redemption Amount of a Series of Fixed Rate Covered Bonds on its Final Maturity Date is deferred until the applicable Extended Due for Payment Date in accordance with the Terms and Conditions, interest will accrue and be payable on the unpaid portion of the Final Redemption Amount up to the Extended Due for Payment Date at the Rate of Interest specified in the applicable Final Terms Document or Pricing Supplement which may provide that such Series of Fixed Rate Covered Bonds will continue to bear interest at a Fixed Rate or at a Floating Rate despite the fact that interest accrued and was payable on such Covered Bonds prior to the Final Maturity Date at a Fixed Rate. The yield for any Fixed Rate Covered Bond is calculated at the Issue Date on the basis of the Issue Price and is not an indication of future yield.

Interest on Fixed Rate Covered Bonds. Each Fixed Rate Covered Bond bears interest on its Principal Amount Outstanding, but subject to Condition 4.3 (Interest following a Notice to Pay) from (and including) the Interest Commencement Date at the rate(s) per annum equal to the Rate(s) of Interest. Interest will be payable, subject as provided payable in these Terms and Conditions, in arrears arrear on the Interest Payment Date(s) in each year up to (and including) the Final Maturity Date. If the Covered Bonds are in definitive form, except as provided in the applicable Final Terms Document or Pricing SupplementTerms, the amount of interest payable on each Interest Payment Date in respect of the Fixed Interest Period (as defined in Condition 4.5 (Business Day, Business Day Convention, Day Count Fractions and other adjustments)) ending on (but excluding) such date will amount to the Fixed Coupon Amount. Payments of interest on any Interest Payment Date will, if so specified in the applicable Final Terms Document or Pricing SupplementTerms, include an amount which may be paid in addition to the interest payment on such Broken Amount so specified. As used in the Conditions, Fixed Interest Period means the period from (and including) an Interest Payment Date (or the Interest Commencement Date) to (but excluding) the next (or first) Interest Payment Date, if so specified (the Broken Amount). Except in the case of Covered Bonds in definitive form where a “an applicable Fixed Coupon Amount” Amount or “Broken Amount” Amount is specified in the applicable Final Terms Document or Pricing SupplementTerms, interest will shall be calculated in respect of any period by applying the Rate of Interest to to: (i) in the case of Fixed Rate Covered Bonds which are represented by a Global Covered Bond, the aggregate outstanding nominal amount of the Fixed Rate Covered Bonds represented by such Global Covered Bond, or ; or (ii) in the case of Fixed Rate Covered Bonds in definitive form, the Calculation Amount; and and, in each case, multiplying such sum by the applicable Day Count Fraction, and rounding the . The resultant figure (including after application of any Fixed Coupon Amount or Broken Amount to the Calculation Amount, in the case of Fixed Rate Covered Bonds in definitive form) shall be rounded to the nearest sub-unit of the relevant Specified Currency, half of any such sub-unit being rounded upwards or otherwise in accordance with applicable market convention. Where the Specified Denomination of a Fixed Rate Covered Bond in definitive form comprises more than one is a multiple of the Calculation Amount, the amount of interest payable in respect of such Fixed Rate Covered Bond will shall be the aggregate product of the amounts amount (determined in the manner provided above) for each the Calculation Amount comprising and the amount by which the Calculation Amount is multiplied to reach the Specified Denomination Denomination, without any further rounding. The applicable Final Terms Document or Pricing Supplement may provide that if the payment of the Final Redemption Amount of a Series of Fixed Rate Covered Bonds on its Final Maturity Date is deferred until the applicable Extended Due for Payment Date in accordance with the Terms and Conditions, interest will accrue and be payable on the unpaid portion of the Final Redemption Amount up to the Extended Due for Payment Date at the Rate of Interest specified in the applicable Final Terms Document or Pricing Supplement which may provide that such Series of Fixed Rate Covered Bonds will continue to bear interest at a Fixed Rate or at a Floating Rate despite the fact that interest accrued and was payable on such Covered Bonds prior to the Final Maturity Date at a Fixed Rate. The yield for any Fixed Rate Covered Bond is calculated at the Issue Date on the basis of the Issue Price and is not an indication of future yield.

Interest on Fixed Rate Covered Bonds. Each Fixed Rate Covered Bond bears interest on its Principal Amount Outstanding, but subject to Condition 4.3 (Interest following a Notice to Pay) from (and including) the Interest Commencement Date at the rate(s) per annum equal to the Rate(s) of Interest. Interest will be payable, subject as provided in these Terms and Conditions, in arrears arrear on the Interest Payment Date(s) in each year up to (and including) the Final Maturity Date. If the Covered Bonds are in definitive form, except as provided in the applicable Final Terms Document or Pricing SupplementTerms, the amount of interest payable on each Interest Payment Date in respect of the Interest Period (as defined in Condition 4.5 (Business Day, Business Day Convention, Day Count Fractions and other adjustments)) ending on (but excluding) such date will amount to the Fixed Coupon Amount. Payments of interest on any Interest Payment Date will, if so specified in the applicable Final Terms Document or Pricing SupplementTerms, include an amount which may be paid in addition to the interest payment on such Interest Payment Date, if Broken Amount so specified (the Broken Amount)specified. Except in the case of Covered Bonds in definitive form where a “an applicable Fixed Coupon Amount” Amount or “Broken Amount” Amount is specified in the applicable Final Terms Document or Pricing SupplementTerms, interest will shall be calculated in respect of any period by applying the Rate of Interest to to: (iA) in the case of Fixed Rate Covered Bonds which are represented by a Global Covered Bond, the aggregate outstanding nominal amount of the Fixed Rate Covered Bonds represented by such Global Covered BondBond (or, or if they are Partly Paid Rate Covered Bonds, the aggregate amount paid up); or (iiB) in the case of Fixed Rate Covered Bonds in definitive form, the Calculation Amount; and , and, in each case, multiplying such sum by the applicable Day Count Fraction, and rounding the resultant figure to the nearest sub-unit of the relevant Specified Currency, half of any such sub-unit being rounded upwards or otherwise in accordance with applicable market convention. Where the Specified Denomination of a Fixed Rate Covered Bond in definitive form comprises more than one Calculation Amount, the amount of interest payable in respect of such Fixed Rate Covered Bond will shall be the aggregate of the amounts (determined in the manner provided above) for each Calculation Amount comprising the Specified Denomination without any further rounding. The applicable Final Terms Document or Pricing Supplement may provide that if the payment of the Final Redemption Amount of a Series of Fixed Rate Covered Bonds on its Final Maturity Date is deferred until the applicable Extended Due for Payment Date in accordance with the Terms and Conditions, interest will accrue and be payable on the unpaid portion of the Final Redemption Amount up to the Extended Due for Payment Date at the Rate of Interest specified in the applicable Final Terms Document or Pricing Supplement which may provide that such Series of Fixed Rate Covered Bonds will continue to bear interest at a Fixed Rate or at a Floating Rate despite the fact that interest accrued and was payable on such Covered Bonds prior to the Final Maturity Date at a Fixed Rate. The yield for any Fixed Rate Covered Bond is calculated at the Issue Date on the basis of the Issue Price and is not an indication of future yield.

Interest on Fixed Rate Covered Bonds. Each Fixed Rate Covered Bond bears interest on its Principal Amount OutstandingOutstanding (as defined in Condition 4.5, but subject to Condition 4.3 (Interest following a Notice to Pay4.3) from (and including) the Interest Commencement Date at the rate(s) per annum equal to the Rate(s) of Interest. Interest will be payable, subject as provided in these Terms and Conditions, in arrears on the Interest Payment Date(s) in each year up to (and including) the Final Maturity Date. If the Covered Bonds are in definitive form, except as provided in the applicable Final Terms Document or Pricing Supplement, the amount of interest payable on each Interest Payment Date in respect of the Interest Period (as defined in Condition 4.5 (Business Day, Business Day Convention, Day Count Fractions and other adjustments)4.5) ending on (but excluding) such date will amount to the Fixed Coupon Amount. Payments of interest on any Interest Payment Date will, if so specified in the applicable Final Terms Document or Pricing Supplement, include an amount which may be paid in addition to the interest payment on such Interest Payment Date, if Broken Amount so specified (the Broken Amount)specified. Except in the case of Covered Bonds in definitive form where a “Fixed Coupon Amount” Amount or “Broken Amount” Amount is specified in the applicable Final Terms Document or Pricing Supplement, interest will be calculated in respect of any period by applying the Rate of Interest to (ia) in the case of Fixed Rate Covered Bonds which are represented by a Global Covered Bond, the aggregate outstanding nominal amount of the Fixed Rate Covered Bonds represented by such Global Covered Bond, or (iib) in the case of Fixed Rate Covered Bonds in definitive form, the Calculation Amount; and in each case, multiplying such sum by the applicable Day Count FractionFraction (as defined in Condition 4.5), and rounding the resultant figure to the nearest sub-unit (as defined in Condition 4.5) of the relevant Specified Currency, half of any such sub-unit being rounded upwards or otherwise in accordance with applicable market convention. Where the Specified Denomination of a Fixed Rate Covered Bond in definitive form comprises more than one Calculation Amount, the amount of interest payable in respect of such Fixed Rate Covered Bond will be the aggregate of the amounts (determined in the manner provided above) for each Calculation Amount comprising the Specified Denomination without any further rounding. The applicable Final Terms Document or Pricing Supplement may provide that if the payment of the Final Redemption Amount of a Series of Fixed Rate Covered Bonds on its Final Maturity Date is deferred until the applicable Extended Due for Payment Date in accordance with the Terms and Conditions, interest will accrue and be payable on the unpaid portion of the Final Redemption Amount up to the Extended Due for Payment Date at the Rate of Interest specified in the applicable Final Terms Document or Pricing Supplement which may provide that such Series of Fixed Rate Covered Bonds will continue to bear interest at a Fixed Rate or at a Floating Rate despite the fact that interest accrued and was payable on such Covered Bonds prior to the Final Maturity Date at a Fixed Rate. The yield for any Fixed Rate Covered Bond is calculated at the Issue Date on the basis of the Issue Price and is not an indication of future yield.

Interest on Fixed Rate Covered Bonds. Each Fixed Rate Covered Bond bears interest on its Principal Amount Outstanding, but subject to Condition 4.3 (Interest following a Notice to Pay) Outstanding from (and including) the Interest Commencement Date at the rate(s) per annum equal to the Rate(s) of Interest. Interest will be payable, subject as provided in these Terms and Conditions, in arrears on the Interest Payment Date(s) in each year up to (and including) the Final Maturity Date. If the Covered Bonds are in definitive form, except as provided in the applicable Final Terms Document or Pricing SupplementDocument, the amount of interest payable on each Interest Payment Date in respect of the Interest Period (as defined in Condition 4.5 (Business Day, Business Day Convention, Day Count Fractions and other adjustments)) ending on (but excluding) such date will amount to the Fixed Coupon Amount. Payments of interest on any Interest Payment Date will, if so specified in the applicable Final Terms Document or Pricing SupplementDocument, include an amount which may be paid in addition to the interest payment on such Interest Payment Date, if Broken Amount so specified (the Broken Amount)specified. Except in the case of Covered Bonds in definitive form where a “Fixed Coupon Amount” Amount or “Broken Amount” Amount is specified in the applicable Final Terms Document or Pricing SupplementDocument, interest will be calculated in respect of any period by applying the Rate of Interest to (i) in the case of Fixed Rate Covered Bonds which are represented by a Global Covered Bond, the aggregate outstanding nominal amount of the Fixed Rate Covered Bonds represented by such Global Covered Bond, or (ii) in the case of Fixed Rate Covered Bonds in definitive form, the Calculation Amount; and in each case, multiplying such sum by the applicable Day Count Fraction, and rounding the resultant figure to the nearest sub-unit of the relevant Specified Currency, half of any such sub-unit being rounded upwards or otherwise in accordance with applicable market convention. Where the Specified Denomination of a Fixed Rate Covered Bond in definitive form comprises more than one Calculation Amount, the amount of interest payable in respect of such Fixed Rate Covered Bond will be the aggregate of the amounts (determined in the manner provided above) for each Calculation Amount comprising the Specified Denomination without any further rounding. The applicable Final Terms Document or Pricing Supplement may provide that if the payment of the Final Redemption Amount of a Series of Fixed Rate Covered Bonds on its Final Maturity Date is deferred until the applicable Extended Due for Payment Date in accordance with the Terms and Conditions, interest will accrue and be payable on the unpaid portion of the Final Redemption Amount up to the Extended Due for Payment Date at the Rate of Interest specified in the applicable Final Terms Document or Pricing Supplement which may provide that such Series of Fixed Rate Covered Bonds will continue to bear interest at a Fixed Rate or at a Floating Rate despite the fact that interest accrued and was payable on such Covered Bonds prior to the Final Maturity Date at a Fixed Rate. The yield for any Fixed Rate Covered Bond is calculated at the Issue Date on the basis of the Issue Price and is not an indication of future yield.

Interest on Fixed Rate Covered Bonds. Each Fixed Rate Covered Bond bears interest on its Principal Amount Outstanding, but subject to Condition 4.3 (Interest following a Notice to Pay) Outstanding from (and including) the Interest Commencement Date at the rate(s) per annum equal to the Rate(s) of Interest. Interest will be payable, subject as provided in these Terms and Conditions, in arrears arrear on the Interest Payment Date(s) in each year up to (and including) the Final Maturity Date. If a Notice to Pay is served on the Covered Bond Guarantor, the Covered Bond Guarantor shall pay Guaranteed Amounts in equivalent amounts to those described in the preceding sentence under the Covered Bond Guarantee in respect of the Covered Bonds on the Original Due for Payment Dates or, if applicable, the Extended Due for Payment Date. If the Covered Bonds are in definitive form, except as provided in the applicable Final Terms Document or Pricing SupplementTerms, the amount of interest payable on each Interest Payment Date in respect of the Fixed Interest Period (as defined in Condition 4.5 (Business Day, Business Day Convention, Day Count Fractions and other adjustments)) ending on (but excluding) such date will amount to the fixed coupon amount specified in the Final Terms (the Fixed Coupon Amount). Payments of interest on any Interest Payment Date will, if so specified in the applicable Final Terms Document or Pricing SupplementTerms, include an amount which may be paid in addition to the interest payment on such Interest Payment Date, if so broken amount specified in the relevant Final Terms (the Broken Amount)) so specified. As used in the Conditions, Fixed Interest Period means the period from (and including) an Interest Payment Date (or the Interest Commencement Date) to (but excluding) the next (or first) Interest Payment Date. Except in the case of Covered Bonds in definitive form where a “Fixed Coupon Amount” Amount or “Broken Amount” Amount is specified in the applicable Final Terms Document or Pricing SupplementTerms, interest will shall be calculated in respect of any period by applying the Rate of Interest to to: (i) in the case of Fixed Rate Covered Bonds which are represented by a Global Covered Bond, the aggregate outstanding nominal amount of the Fixed Rate Covered Bonds represented by such Global Covered Bond, or ; or (ii) in the case of Fixed Rate Covered Bonds in definitive form, the Calculation Amount; and in each case, multiplying such sum by the applicable Day Count Fraction, and rounding the resultant figure to the nearest sub-unit of the relevant Specified Currency, half of any such sub-unit being rounded upwards or otherwise in accordance with applicable market convention. Where the Specified Denomination of a Fixed Rate Covered Bond in definitive form comprises more than one is a multiple of the Calculation Amount, the amount of interest payable in respect of such Fixed Rate Covered Bond will shall be the aggregate product of the amounts amount (determined in the manner provided above) for each the Calculation Amount comprising and the amount by which the Calculation Amount is multiplied to reach the Specified Denomination Denomination, without any further rounding. The applicable Final Terms Document or Pricing Supplement may provide that if the payment of the Final Redemption Amount of a Series of Fixed Rate Covered Bonds on its Final Maturity Date is deferred until the applicable Extended Due for Payment Date in accordance with the Terms and Conditions, interest will accrue and be payable on the unpaid portion of the Final Redemption Amount up to the Extended Due for Payment Date at the Rate of Interest specified in the applicable Final Terms Document or Pricing Supplement which may provide that such Series of Fixed Rate Covered Bonds will continue to bear interest at a Fixed Rate or at a Floating Rate despite the fact that interest accrued and was payable on such Covered Bonds prior to the Final Maturity Date at a Fixed Rate. The yield for any Fixed Rate Covered Bond is calculated at the Issue Date on the basis of the Issue Price and is not an indication of future yield.

Interest on Fixed Rate Covered Bonds. Each Fixed Rate Covered Bond bears interest on its Principal Amount Outstanding, but subject to Condition 4.3 (Interest following a Notice to Pay) Outstanding from (and including) the Interest Commencement Date at the rate(s) per annum equal to the Rate(s) of Interest. Interest will be payable, subject as provided in these Terms and Conditions, in arrears arrear on the Interest Payment Date(s) in each year up to (and including) the Final Maturity Date. If a Notice to Pay is served on the Covered Bond Guarantor, the Covered Bond Guarantor shall pay Guaranteed Amounts in equivalent amounts to those described in the preceding sentence under the Covered Bond Guarantee in respect of the Covered Bonds on the Original Due for Payment Dates or, if applicable, the Extended Due for Payment Date. If the Covered Bonds are in definitive form, except as provided in the applicable Final Terms Document or Pricing SupplementTerms, the amount of interest payable on each Interest Payment Date in respect of the Fixed Interest Period (as defined in Condition 4.5 (Business Day, Business Day Convention, Day Count Fractions and other adjustments)) ending on (but excluding) such date will amount to the fixed coupon amount specified in the Final Terms (the Fixed Coupon Amount). Payments of interest on any Interest Payment Date will, if so specified in the applicable Final Terms Document or Pricing SupplementTerms, include an amount which may be paid in addition to the interest payment on such Interest Payment Date, if so broken amount specified in the relevant Final Terms (the Broken Amount)) so specified. As used in the Conditions, Fixed Interest Period means the period from (and including) an Interest Payment Date (or the Interest Commencement Date) to (but excluding) the next (or first) Interest Payment Date. Except in the case of Covered Bonds in definitive form where a “Fixed Coupon Amount” Amount or “Broken Amount” Amount is specified in the applicable Final Terms Document or Pricing SupplementTerms, interest will shall be calculated in respect of any period by applying the Rate of Interest to (i) in the case of Fixed Rate Covered Bonds which are represented by a Global Covered Bond, the aggregate outstanding nominal amount of the Fixed Rate Covered Bonds represented by such Global Covered Bond, or (ii) in the case of Fixed Rate Covered Bonds in definitive form, the Calculation Amount; and in each case, multiplying such sum by the applicable Day Count Fraction, and rounding the resultant figure to the nearest sub-unit of the relevant Specified Currency, half of any such sub-unit being rounded upwards or otherwise in accordance with applicable market convention. Where the Specified Denomination of a Fixed Rate Covered Bond in definitive form comprises more than one Calculation Amount, the amount of interest payable in respect of such Fixed Rate Covered Bond will be the aggregate of the amounts (determined in the manner provided above) for each Calculation Amount comprising the Specified Denomination without any further rounding. The applicable Final Terms Document or Pricing Supplement may provide that if the payment of the Final Redemption Amount of a Series of Fixed Rate Covered Bonds on its Final Maturity Date is deferred until the applicable Extended Due for Payment Date in accordance with the Terms and Conditions, interest will accrue and be payable on the unpaid portion of the Final Redemption Amount up to the Extended Due for Payment Date at the Rate of Interest specified in the applicable Final Terms Document or Pricing Supplement which may provide that such Series of Fixed Rate Covered Bonds will continue to bear interest at a Fixed Rate or at a Floating Rate despite the fact that interest accrued and was payable on such Covered Bonds prior to the Final Maturity Date at a Fixed Rate. The yield for any Fixed Rate Covered Bond is calculated at the Issue Date on the basis of the Issue Price and is not an indication of future yield.to: