Common use of Prevailing Interest Rate Clause in Contracts

Prevailing Interest Rate. Unless previously redeemed or repurchased and cancelled in accordance with these Conditions and subject to the further provisions of this Condition 4, the Securities will bear interest on their principal amount as follows: (i) from (and including) the Issue Date to (but excluding) the First Reset Date, at the rate of 7.125 per cent. per annum; and (ii) from (and including) the First Reset Date, at the applicable 6 Year Swap Rate in respect of the relevant Reset Period plus: (A) in respect of the period commencing on the First Reset Date to (but excluding) 23 November 2032, 4.322 per cent. per annum; (B) from (and including) 23 November 2032 to (but excluding) 23 November 2048, 4.572 per cent. per annum; and (C) from (and including) 23 November 2048, 5.322 per cent. per annum, (each a "Subsequent Fixed Interest Rate"), all as determined by the Agent Bank, payable annually in arrear on each Interest Payment Date, commencing on 23 November 2023, subject to Condition 5 (Optional Interest Deferral), and where:

Appears in 1 contract

Samples: Fiscal Agency Agreement

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Prevailing Interest Rate. Unless previously redeemed or repurchased and cancelled in accordance with these Conditions and subject to the further provisions of this Condition 4, the Securities will bear interest on their principal amount as follows: (i) from (and including) the Issue Date to (but excluding) the First Reset Date, at the rate of 7.125 5.7522 per cent. per annum; and (ii) from (and including) the First Reset Date, at the applicable 6 8 Year Swap Rate in respect of the relevant Reset Period plus: (A) in respect of the period commencing on the First Reset Date to (but excluding) 23 November 203215 April 2034, 4.322 3.121 per cent. per annum; (B) from (and including) 23 November 2032 15 April 2034 to (but excluding) 23 November 204815 April 2052, 4.572 3.371 per cent. per annum; and (C) from (and including) 23 November 204815 April 2052, 5.322 4.121 per cent. per annum, (each a "Subsequent Fixed Interest Rate"), all as determined by the Agent Bank, payable annually (except for a long first Interest Period) in arrear on each Interest Payment Date, commencing on 23 November 202315 April 2025, subject to Condition 5 (Optional Interest Deferral), and where:

Appears in 1 contract

Samples: Fiscal Agency Agreement

Prevailing Interest Rate. Unless previously redeemed or repurchased and cancelled in accordance with these Conditions and subject to the further provisions of this Condition 4, the Securities will bear interest on their principal amount as follows: (i) from (and including) the Issue Date to (but excluding) the First Reset Date, at the rate of 7.125 2.376 per cent. per annum; and (ii) from (and including) the First Reset Date, at the applicable 6 8 Year Swap Rate in respect of the relevant Reset Period plus: (A) in respect of the period commencing on the First Reset Date to (but excluding) 23 November 203212 February 2031, 4.322 2.616 per cent. per annum; (B) from (and including) 23 November 2032 12 February 2031 to (but excluding) 23 November 204812 May 2049, 4.572 2.866 per cent. per annum; and (C) from (and including) 23 November 204812 May 2049, 5.322 3.616 per cent. per annum, (each a "Subsequent Fixed Interest Rate"), all as determined by the Agent Bank, payable annually (except for a long first Interest Period) in arrear on each Interest Payment Date, commencing on 23 November 202312 May 2022, subject to Condition 5 (Optional Interest Deferral), and where:

Appears in 1 contract

Samples: Fiscal Agency Agreement

Prevailing Interest Rate. Unless previously redeemed or repurchased and cancelled in accordance with these Conditions and subject to the further provisions of this Condition 4, the Securities will bear interest on their principal amount as follows: (i) from (and including) the Issue Date to (but excluding) the First Reset Date, at the rate of 7.125 2.880 per cent. per annum; and (ii) from (and including) the First Reset Date, at the applicable 6 Year Swap Rate in respect of the relevant Reset Period plus: (A) in respect of the period commencing on the First Reset Date to (but excluding) 23 24 November 20322031, 4.322 2.866 per cent. per annum; (B) from (and including) 23 24 November 2032 2031 to (but excluding) 23 November 24 May 2048, 4.572 3.116 per cent. per annum; and (C) from (and including) 23 November 24 May 2048, 5.322 3.866 per cent. per annum, (each a "Subsequent Fixed Interest Rate"), all as determined by the Agent Bank, payable annually (except for a long first Interest Period) in arrear on each Interest Payment Date, commencing on 23 November 24 May 2023, subject to Condition 5 (Optional Interest Deferral), and where:

Appears in 1 contract

Samples: Fiscal Agency Agreement

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Prevailing Interest Rate. Unless previously redeemed or repurchased and cancelled in accordance with these Conditions and subject to the further provisions of this Condition 4, the Securities will bear interest on their principal amount as follows: (i) from (and including) the Issue Date to (but excluding) the First Reset Date, at the rate of 7.125 6.750 per cent. per annum; and (ii) from (and including) the First Reset Date, at the applicable 6 8 Year Swap Rate in respect of the relevant Reset Period plus: (A) in respect of the period commencing on the First Reset Date to (but excluding) 23 November 20327 September 2033, 4.322 3.615 per cent. per annum; (B) from (and including) 23 November 2032 7 September 2033 to (but excluding) 23 November 20487 September 2051, 4.572 3.865 per cent. per annum; and (C) from (and including) 23 November 20487 September 2051, 5.322 4.615 per cent. per annum, (each a "Subsequent Fixed Interest Rate"), all as determined by the Agent Bank, payable annually in arrear on each Interest Payment Date, commencing on 23 November 20237 September 2024, subject to Condition 5 (Optional Interest Deferral), and where:

Appears in 1 contract

Samples: Fiscal Agency Agreement

Prevailing Interest Rate. β€Œ Unless previously redeemed or repurchased and cancelled in accordance with these Conditions and subject to the further provisions of this Condition 4, the Securities will bear interest on their principal amount as follows: (i) from (and including) the Issue Date to (but excluding) the First Reset Date, at the rate of 7.125 2.875 per cent. per annum, payable annually in arrear on each Interest Payment Date commencing on 24 September 2020; and (ii) from (and including) the First Reset Date, at the applicable 6 8 Year Swap Rate in respect of the relevant Reset Period plus: (A) in respect of the period commencing on the First Reset Date to (but excluding) 23 November 203224 September 2029, 4.322 3.071 per cent. per annum; (B) from (and including) 23 November 2032 in respect of the period commencing on 24 September 2029 to (but excluding) 23 November 204824 September 2047, 4.572 3.321 per cent. per annum; and (C) from (and including) 23 November 2048including 24 September 2047, 5.322 4.071 per cent. per annum, all as determined by the Agent Bank (each a "Subsequent Fixed Interest Rate"), all as determined by the Agent Bank, payable annually in arrear on each Interest Payment Date, commencing on 23 November 202324 September 2020, subject to Condition 5 (Optional Interest Deferral), and where:

Appears in 1 contract

Samples: Fiscal Agency Agreement

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