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

Screen Rate Determination for Floating Rate Notes. where Screen Rate Determination is specified in the relevant Pricing Supplement as the manner in which the Rate of Interest is to be determined, the Rate of Interest for each Interest Period shall be determined by the Calculation Agent at or about the Relevant Time on the Interest Determination Date in respect of such Interest Period in accordance with the following: (A) if the Primary Source for the Rate of Interest is a Page, subject as provided below, the Rate of Interest shall be: (1) the Relevant Rate (where such Relevant Rate on such Page is a composite quotation or is customarily supplied by one entity); or (2) the arithmetic mean of the Relevant Rates of the entities whose Relevant Rates appear on that Page, in each case appearing on such Page at the Relevant Time on the Interest Determination Date; (B) if the Primary Source for the Rate of Interest is Reference Banks or if sub-paragraph (A)(1) above applies and no Relevant Rate appears on the Page at the Relevant Time on the Interest Determination Date or if sub-paragraph (A)(2) above applies and fewer than two Relevant Rates appear on the Page at the Relevant Time on the Interest Determination Date, subject as provided below, the Rate of Interest shall be the arithmetic mean of the Relevant Rates that each of the Reference Banks is quoting to leading banks in the Relevant Financial Centre at the Relevant Time on the Interest Determination Date, as determined by the Calculation Agent; and (C) if paragraph (B) above applies and the Calculation Agent determines that fewer than two Reference Banks are so quoting Relevant Rates, subject as provided below, the Rate of Interest shall be the arithmetic mean of the rates per annum (expressed as a percentage) that the Calculation Agent determines to be the rates (being the nearest equivalent to the Benchmark) in respect of a Representative Amount of the Specified Currency that at least two out of the five leading banks selected by the Calculation Agent in the principal financial centre of the country of the Specified Currency or, if the Specified Currency is euro, in the Euro-zone as selected by the Calculation Agent (the "Principal Financial Centre") are quoting at or about the Relevant Time on the date on which such banks would customarily quote such rates for a period commencing on the Effective Date for a period equivalent to the Specified Duration (i) to leading banks carrying on business in Europe, or (if the Calculation Agent determines that fewer than two of such banks are so quoting to leading banks in Europe) (ii) to leading banks carrying on business in the Principal Financial Centre; except that, if fewer than two of such banks are so quoting to leading banks in the Principal Financial Centre, the Rate of Interest shall be the Rate of Interest determined on the previous Interest Determination Date (after readjustment for any difference between any Margin or Maximum Rate of Interest or Minimum Rate of Interest applicable to the preceding Interest Period and to the relevant Interest Period). If no Rate of Interest has been determined on any of the previous Interest Determination Dates, the Rate of Interest shall be the rate as determined by the Calculation Agent in its reasonable discretion.

Screen Rate Determination for Floating Rate Notes. where A. Floating Rate Notes other than EONIA Linked Interest Notes, XXXXX Linked Interest Notes, Federal Funds Rate Linked Interest Notes, CMS Linked Interest Notes, Compounded Daily SOFR Linked Interest Notes or Weighted Average SOFR Linked Interest Notes Where Screen Rate Determination is specified in the relevant Pricing Supplement Final Terms as the manner in which the Rate of Interest is to be determined, the Rate of Interest for each Interest Period shall will, subject as provided below, be determined by either: (i) the Calculation Agent offered quotation; or (ii) the arithmetic mean (rounded if necessary to the fifth decimal place, with 0.000005 being rounded upwards) of the offered quotations, (expressed as a percentage rate per annum) for the Reference Rate which appears or appear, as the case may be, on the Relevant Screen Page (or such replacement page on that service which displays the information) as at or about the Relevant Time on the Interest Determination Date in respect question plus or minus (as indicated in the Final Terms) the Margin (if any), all as determined by the Issue and Paying Agent. If five or more of such Interest Period in accordance with offered quotations are available on the following: Relevant Screen Page, the highest (Aor, if there is more than one such highest quotation, one only of such quotations) and the lowest (or, if there is more than one such lowest quotation, one only of such quotations) shall be disregarded by the Primary Source Issue and Paying Agent for the Rate purpose of Interest is a Page, subject as provided below, the Rate of Interest shall be: (1) the Relevant Rate (where such Relevant Rate on such Page is a composite quotation or is customarily supplied by one entity); or (2) determining the arithmetic mean (rounded as provided above) of such offered quotations. If the Relevant Rates Screen Page is not available or if, in the case of (i) above, no offered quotation appears or, in the entities whose Relevant Rates appear on that Pagecase of (ii) above, fewer than three offered quotations appear, in each case appearing on such Page as at the Relevant Time on Time, the Interest Determination Date; Issue and Paying Agent shall request each of the Reference Banks (Bas defined below) if to provide the Primary Source Issue and Paying Agent with its offered quotation (expressed as a percentage rate per annum) for the Reference Rate of Interest is Reference Banks or if sub-paragraph (A)(1) above applies and no Relevant Rate appears on the Page at approximately the Relevant Time on the Interest Determination Date in question. If two or more of the Reference Banks provide the Issue and Paying Agent with offered quotations, the Rate of Interest for the Interest Period shall be the arithmetic mean (rounded if sub-paragraph necessary to the fifth decimal place, with 0.000005 being rounded upwards) of the offered quotations plus or minus (A)(2as appropriate) above applies the Margin (if any), all as determined by the Issue and fewer than Paying Agent. If on any Interest Determination Date one only or none of the Reference Banks provides the Issue and Paying Agent with an offered quotation as provided in the preceding paragraph, the Rate of Interest for the relevant Interest Period shall be the rate per annum which the Issue and Paying Agent determines as being the arithmetic mean (rounded if necessary to the fifth decimal place, with 0.000005 being rounded upwards) of the rates, as communicated to (and at the request of) the Issue and Paying Agent by the Reference Banks or any two Relevant Rates appear on the Page or more of them, at which such banks were offered, at approximately the Relevant Time on the relevant Interest Determination Date, subject deposits in the Specified Currency for a period equal to that which would have been used for the Reference Rate by leading banks in the London inter-bank market (if the Reference Rate is LIBOR) or the Euro- zone inter-bank market (if the Reference Rate is EURIBOR) or if the Reference Rate is other than LIBOR or EURIBOR, the inter-bank market of the Relevant Financial Centre plus or minus (as appropriate) the Margin (if any) or, if fewer than two of the Reference Banks provide the Issue and Paying Agent with offered rates, the offered rate for deposits in the Specified Currency for a period equal to that which would have been used for the Reference Rate, or the arithmetic mean (rounded as provided belowabove) of the offered rates for deposits in the Specified Currency for a period equal to that which would have been used for the Reference Rate, at which, at approximately the Relevant Time on the relevant Interest Determination Date, any one or more banks (which bank or banks is or are in the opinion of the Issuer suitable for the purpose) informs the Issue and Paying Agent it is quoting to leading banks in the London inter-bank market (if the Reference Rate is LIBOR) or the Euro- zone inter-bank market (if the Reference Rate is EURIBOR) or if the Reference Rate is other than LIBOR or EURIBOR, the inter-bank market of the Relevant Financial Centre plus or minus (as appropriate) the Margin (if any), provided that, if the Rate of Interest cannot be determined in accordance with the foregoing provisions of this paragraph, the Rate of Interest shall be the arithmetic mean of the Relevant Rates that each of the Reference Banks is quoting to leading banks in the Relevant Financial Centre determined as at the Relevant Time on the Interest Determination Date, as determined by the Calculation Agent; and (C) if paragraph (B) above applies and the Calculation Agent determines that fewer than two Reference Banks are so quoting Relevant Rates, subject as provided below, the Rate of Interest shall be the arithmetic mean of the rates per annum (expressed as a percentage) that the Calculation Agent determines to be the rates (being the nearest equivalent to the Benchmark) in respect of a Representative Amount of the Specified Currency that at least two out of the five leading banks selected by the Calculation Agent in the principal financial centre of the country of the Specified Currency or, if the Specified Currency is euro, in the Euro-zone as selected by the Calculation Agent (the "Principal Financial Centre") are quoting at or about the Relevant Time on the date on which such banks would customarily quote such rates for a period commencing on the Effective Date for a period equivalent to the Specified Duration (i) to leading banks carrying on business in Europe, or (if the Calculation Agent determines that fewer than two of such banks are so quoting to leading banks in Europe) (ii) to leading banks carrying on business in the Principal Financial Centre; except that, if fewer than two of such banks are so quoting to leading banks in the Principal Financial Centre, the Rate of Interest shall be the Rate of Interest determined on the previous last preceding Interest Determination Date (after readjustment for any difference between any though substituting, where a different Margin or Maximum Rate of Interest or Minimum Rate of Interest applicable is to the preceding Interest Period and be applied to the relevant Interest Period from that which applied to the last preceding Interest Period, the Margin relating to the relevant Interest Period in place of the Margin relating to that last preceding Interest Period). If no Rate For the purposes of Interest has been determined on any of the previous Interest Determination Datesthis Condition 5B.4A, the Rate of Interest shall be the rate as determined by the Calculation Agent in its reasonable discretion.each case subject to Condition 5B.4H:

Screen Rate Determination for Floating Rate Notes. where Where Screen Rate Determination is specified in the relevant Pricing Supplement hereon as the manner in which the Interest Rate of Interest is to be determined, the Interest Rate of Interest for each Interest Accrual Period shall be determined by the Calculation Agent at or about the Relevant Time on the Interest Determination Date in respect of such Interest Accrual Period in accordance with the following: (Ai) if the Primary Source for the Rate of Interest is a Page, subject as provided below, the Interest Rate of Interest shall be: (1a) the Relevant Rate (where such Relevant Rate on such Page is a composite quotation or is customarily supplied by one entity); or (2b) the arithmetic mean of the Relevant Rates of the entities persons whose Relevant Rates appear on that Page, in each case appearing on such Page at the Relevant Time on the Interest Determination Date; (Bii) if the Page specified in the relevant Final Terms as a Primary Source permanently ceases to quote the Relevant Rate(s) but such quotation(s) is/are available from another page, section or other part of such information service selected by the Calculation Agent (the Replacement Page), the Replacement Page shall be substituted as the Primary Source for the Interest Rate and if no Replacement Page exists but such quotation(s) is/are available from a page, section or other part of a different information service selected by the Calculation Agent and approved by the Issuer and the relevant Dealer(s) (the Secondary Replacement Page), the Secondary Replacement Page shall be substituted as the Primary Source for the Interest Rate; (iii) if the Primary Source for the Rate of Interest is Reference Banks or if sub-paragraph (A)(1i)(x) above applies and no Relevant Rate appears on the Page at the Relevant Time on the Interest Determination Date or if sub-paragraph (A)(2i)(y) above applies and fewer than two Relevant Rates appear on the Page at the Relevant Time on the Interest Determination Date, subject as provided below, the Interest Rate of Interest shall be the arithmetic mean of the Relevant Rates that which each of the Reference Banks is quoting to leading banks in the Relevant Financial Centre at the Relevant Time on the Interest Determination Date, as determined by the Calculation Agent; and; (Civ) if sub-paragraph (Biii) above applies and the Calculation Agent determines that fewer than two Reference Banks are so quoting Relevant RatesRates then, subject as provided below, the Interest Rate of Interest shall be the arithmetic mean of the rates per annum (expressed as a percentage) that the Calculation Agent determines to be the rates (being the nearest equivalent to the Benchmark) in respect of a Representative Amount of the Specified Currency that at least two out of the five leading banks selected by the Calculation Agent in the principal financial centre of the country of the Specified Currency or, if the Specified Currency is Euro, the euro-zone, in the Euro-zone as selected by the Calculation Agent (the "Principal Financial Centre") are quoting at or about the Relevant Time on the date on which such banks would customarily quote such rates for a period commencing on the Effective Date for a period equivalent to the Specified Duration (ix) to leading banks carrying on business in Europe, or (if the Calculation Agent determines that fewer than two of such banks are so quoting to leading banks in Europe) (iiy) to leading banks carrying on business in the Principal Financial Centre; except that, if fewer than two of such banks are so quoting to leading banks in the Principal Financial Centre, the Interest Rate of Interest shall (unless otherwise specified) be the Interest Rate of Interest determined on the previous Interest Determination Date (after readjustment for any difference between any Margin Margin, Rate Multiplier or Maximum Rate of Interest or Minimum Interest Rate of Interest applicable to the preceding Interest Accrual Period and to the relevant Interest Accrual Period). If no Rate of Interest has been determined on any of the previous Interest Determination Dates, the Rate of Interest shall be the rate as determined by the Calculation Agent in its reasonable discretion.

Screen Rate Determination for Floating Rate Notes. where Where Screen Rate Determination is specified in the relevant Pricing Supplement hereon as the manner in which the Interest Rate of Interest is to be determined, the Interest Rate of Interest for each Interest Accrual Period shall be determined by the Calculation Agent at or about the Relevant Time on the Interest Determination Date in respect of such Interest Accrual Period in accordance with the following: following (Asubject to (on the occurrence of a Benchmark Trigger Event) Condition 17(f): if the Primary Source for the Rate of Interest is a Page, subject as provided below, the Interest Rate of Interest shall be: (1I) the Relevant Rate (where such Relevant Rate on such Page is a composite quotation or is customarily supplied by one entity); or (2II) the arithmetic mean of the Relevant Rates of the entities persons whose Relevant Rates appear on that Page, in each case appearing on such Page at the Relevant Time on the Interest Determination Date; ; if the Page specified in the applicable Final Terms as a Primary Source permanently ceases to quote the Relevant Rate (Bs) if but such quotation(s) is/are available from another page, section or other part of such information service selected by the Calculation Agent (the Replacement Page), the Replacement Page shall be substituted as the Primary Source for the Interest Rate and if no Replacement Page exists but such quotation(s) is/are available from a page, section or other part of a different information service selected by the Calculation Agent and approved by the Issuer and the relevant Dealer(s) (the Secondary Replacement Page), the Secondary Replacement Page shall be substituted as the Primary Source for the Interest Rate; if the Primary Source is Reference Banks or if sub-paragraph (A)(1i)(I) above applies and no Relevant Rate appears on the Page at the Relevant Time on the Interest Determination Date or if sub-paragraph (A)(2i)(II) above applies and fewer than two Relevant Rates appear on the Page at the Relevant Time on the Interest Determination Date, subject as provided below, the Interest Rate of Interest shall be the arithmetic mean of the Relevant Rates that which each of the Reference Banks is quoting to leading banks in the Relevant Financial Centre at the Relevant Time on the Interest Determination Date, as determined by the Calculation Agent; and (C) if sub-paragraph (Biii) above applies and the Calculation Agent determines that fewer than two Reference Banks are so quoting Relevant RatesRates then, subject as provided below, the Interest Rate of Interest shall be the arithmetic mean of the rates per annum (expressed as a percentage) that the Calculation Agent determines to be the rates (being the nearest equivalent to the Relevant Rate Benchmark) in respect of a Representative Amount of the Specified Currency that at least two out of the five leading banks selected by the Calculation Agent in the principal financial centre of the country of the Specified Currency or, if the Specified Currency is euroEuro, in the Euro-zone as selected by the Calculation Agent Eurozone, (the "Principal Financial Centre") are quoting at or about the Relevant Time on the date on which such banks would customarily quote such rates for a period commencing on the Effective Date for a period equivalent to the Specified Duration (ix) to leading banks carrying on business in Europe, or (if the Calculation Agent determines that fewer than two of such banks are so quoting to leading banks in Europe) (iiy) to leading banks carrying on business in the Principal Financial Centre; except that, if fewer than two of such banks are so quoting to leading banks in the Principal Financial Centre, the Interest Rate of Interest shall (unless otherwise specified) be the Interest Rate of Interest determined on the previous Interest Determination Date (after readjustment for any difference between any Margin Margin, Rate Multiplier or Maximum Rate of Interest or Minimum Interest Rate of Interest applicable to the preceding Interest Accrual Period and to the relevant Interest Accrual Period). If no Rate For the avoidance of Interest has been determined on any of doubt, and unless otherwise stated in the previous Interest Determination Datesapplicable Final Terms, the Rate of minimum Interest Amount shall be the rate as determined by the Calculation Agent in its reasonable discretiondeemed to be zero.

Screen Rate Determination for Floating Rate Notes. where A. Floating Rate Notes other than €STR Linked Interest Notes, XXXXX Linked Interest Notes, Federal Funds Rate Linked Interest Notes, CMS Linked Interest Notes, Compounded Daily SOFR Linked Interest Notes or Weighted Average SOFR Linked Interest Notes Where Screen Rate Determination is specified in the relevant Pricing Supplement Final Terms as the manner in which the Rate of Interest is to be determined, the Rate of Interest for each Interest Period shall will, subject as provided below, be determined by either: (i) the Calculation Agent offered quotation; or (ii) the arithmetic mean (rounded if necessary to the fifth decimal place, with 0.000005 being rounded upwards) of the offered quotations, (expressed as a percentage rate per annum) for the Reference Rate which appears or appear, as the case may be, on the Relevant Screen Page (or such replacement page on that service which displays the information) as at or about the Relevant Time on the Interest Determination Date in respect question plus or minus (as indicated in the Final Terms) the Margin (if any), all as determined by the Issue and Paying Agent. If five or more of such Interest Period in accordance with offered quotations are available on the following: Relevant Screen Page, the highest (Aor, if there is more than one such highest quotation, one only of such quotations) and the lowest (or, if there is more than one such lowest quotation, one only of such quotations) shall be disregarded by the Primary Source Issue and Paying Agent for the Rate purpose of Interest is a Page, subject as provided below, the Rate of Interest shall be: (1) the Relevant Rate (where such Relevant Rate on such Page is a composite quotation or is customarily supplied by one entity); or (2) determining the arithmetic mean (rounded as provided above) of such offered quotations. If the Relevant Rates Screen Page is not available or if, in the case of (i) above, no offered quotation appears or, in the entities whose Relevant Rates appear on that Pagecase of (ii) above, fewer than three offered quotations appear, in each case appearing on such Page as at the Relevant Time on Time, the Interest Determination Date; Issue and Paying Agent shall request each of the Reference Banks (Bas defined below) if to provide the Primary Source Issue and Paying Agent with its offered quotation (expressed as a percentage rate per annum) for the Reference Rate of Interest is Reference Banks or if sub-paragraph (A)(1) above applies and no Relevant Rate appears on the Page at approximately the Relevant Time on the Interest Determination Date in question. If two or more of the Reference Banks provide the Issue and Paying Agent with offered quotations, the Rate of Interest for the Interest Period shall be the arithmetic mean (rounded if sub-paragraph necessary to the fifth decimal place, with 0.000005 being rounded upwards) of the offered quotations plus or minus (A)(2as appropriate) above applies the Margin (if any), all as determined by the Issue and fewer than Paying Agent. If on any Interest Determination Date one only or none of the Reference Banks provides the Issue and Paying Agent with an offered quotation as provided in the preceding paragraph, the Rate of Interest for the relevant Interest Period shall be the rate per annum which the Issue and Paying Agent determines as being the arithmetic mean (rounded if necessary to the fifth decimal place, with 0.000005 being rounded upwards) of the rates, as communicated to (and at the request of) the Issue and Paying Agent by the Reference Banks or any two Relevant Rates appear on the Page or more of them, at which such banks were offered, at approximately the Relevant Time on the relevant Interest Determination Date, subject deposits in the Specified Currency for a period equal to that which would have been used for the Reference Rate by leading banks in the Euro-zone inter-bank market (if the Reference Rate is EURIBOR) or if the Reference Rate is other than EURIBOR, the inter-bank market of the Relevant Financial Centre plus or minus (as appropriate) the Margin (if any) or, if fewer than two of the Reference Banks provide the Issue and Paying Agent with offered rates, the offered rate for deposits in the Specified Currency for a period equal to that which would have been used for the Reference Rate, or the arithmetic mean (rounded as provided belowabove) of the offered rates for deposits in the Specified Currency for a period equal to that which would have been used for the Reference Rate, at which, at approximately the Relevant Time on the relevant Interest Determination Date, any one or more banks (which bank or banks is or are in the opinion of the Issuer suitable for the purpose) informs the Issue and Paying Agent it is quoting to leading banks in the Euro-zone inter-bank market (if the Reference Rate is EURIBOR) or if the Reference Rate is other than EURIBOR, the inter-bank market of the Relevant Financial Centre plus or minus (as appropriate) the Margin (if any), provided that, if the Rate of Interest cannot be determined in accordance with the foregoing provisions of this paragraph, the Rate of Interest shall be the arithmetic mean of the Relevant Rates that each of the Reference Banks is quoting to leading banks in the Relevant Financial Centre determined as at the Relevant Time on the Interest Determination Date, as determined by the Calculation Agent; and (C) if paragraph (B) above applies and the Calculation Agent determines that fewer than two Reference Banks are so quoting Relevant Rates, subject as provided below, the Rate of Interest shall be the arithmetic mean of the rates per annum (expressed as a percentage) that the Calculation Agent determines to be the rates (being the nearest equivalent to the Benchmark) in respect of a Representative Amount of the Specified Currency that at least two out of the five leading banks selected by the Calculation Agent in the principal financial centre of the country of the Specified Currency or, if the Specified Currency is euro, in the Euro-zone as selected by the Calculation Agent (the "Principal Financial Centre") are quoting at or about the Relevant Time on the date on which such banks would customarily quote such rates for a period commencing on the Effective Date for a period equivalent to the Specified Duration (i) to leading banks carrying on business in Europe, or (if the Calculation Agent determines that fewer than two of such banks are so quoting to leading banks in Europe) (ii) to leading banks carrying on business in the Principal Financial Centre; except that, if fewer than two of such banks are so quoting to leading banks in the Principal Financial Centre, the Rate of Interest shall be the Rate of Interest determined on the previous last preceding Interest Determination Date (after readjustment for any difference between any though substituting, where a different Margin or Maximum Rate of Interest or Minimum Rate of Interest applicable is to the preceding Interest Period and be applied to the relevant Interest Period from that which applied to the last preceding Interest Period, the Margin relating to the relevant Interest Period in place of the Margin relating to that last preceding Interest Period). If no Rate For the purposes of Interest has been determined on any of the previous Interest Determination Datesthis Condition 5B.4A, the Rate of Interest shall be the rate as determined by the Calculation Agent in its reasonable discretion.each case subject to Condition 5B.4H: