Common use of Screen Rate Determination Clause in Contracts

Screen Rate Determination. ‌ (a) Where Screen Rate Determination is specified in the Final Terms as the manner in which the Rate of Interest is to be determined, and unless Condition 11.5, 11.6, 11.7, 11.8, 11.9 or 11.10 applies, the Rate of Interest for each Interest Period will, subject as provided below, be either: (i) the 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 the Relevant Time on the Interest Determination Date in 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 offered quotations are available on the Relevant Screen Page, the highest (or, 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 Issue and Paying Agent for the purpose of determining the arithmetic mean (rounded as provided above) of such offered quotations. (b) If the Relevant Screen Page is not available or if, in the case of Condition 11.4(a)(i) above, no offered quotation appears or, in the case of Condition 11.4(a)(ii) above, fewer than three offered quotations appear, in each case as at the Relevant Time, the Issuer (or an agent appointed by the Issuer) shall request each of the Reference Banks to provide the Issuer (or an agent appointed by the Issuer) with its offered quotation (expressed as a percentage rate per annum) for the Reference Rate at approximately the Relevant Time on the Interest Determination Date in question and the Issuer (or an agent appointed by the Issuer) shall notify the Issue and Paying Agent of all quotations received by it. If two or more of the Reference Banks provide the Issuer (or an agent appointed by the Issuer) with offered quotations, the Rate of Interest for the Interest Period shall be the arithmetic mean (rounded if necessary to the fifth decimal place, with 0.000005 being rounded upwards) of the offered quotations plus or minus (as appropriate) the Margin (if any), all as determined by the Issue and Paying Agent.‌ (c) If on any Interest Determination Date one only or none of the Reference Banks provides the Issuer (or an agent appointed by the Issuer) 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 Issuer (or an agent appointed by the Issuer) by the Reference Banks or any two or more of them, at which such banks were offered, at approximately the Relevant Time on the relevant Interest Determination Date, 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 Issuer (or an agent appointed by the Issuer) 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 above) 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 Issuer (or an agent appointed by the Issuer) it is quoting to leading banks in the Euro-zone interbank 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 determined as at the last preceding Interest Determination Date (though substituting, where a different Margin is to 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).

Screen Rate Determination. ‌ (a) Where Screen Rate Determination is specified in the Final Terms applicable Pricing Supplement as the manner in which the Rate of Interest is to be determined, and unless Condition 11.5, 11.6, 11.7, 11.8, 11.9 or 11.10 applies, the Rate of Interest for each Interest Period will, subject as provided below, be either:: -------------------------------------------------------------------------------- 63 -------------------------------------------------------------------------------- (iA) the offered quotationquotation (if there is only one quotation on the Relevant Screen Page); or‌or (iiB) the arithmetic mean (rounded if necessary to the fifth decimal place, with 0.000005 being rounded upwards) of the offered quotations,‌ quotations, (expressed as a percentage rate per annum) for deposits in the Reference Rate Specified Currency for the relevant Interest Period 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 11.00 a.m. (London time, in the Relevant Time case of LIBOR, or Brussels time, in the case of EURIBOR) on the Interest Determination Date in question plus or minus (as indicated in the Final Termsapplicable Pricing Supplement) the Margin (if any), all as determined by the Issue and Paying Agent. If five or more of such offered quotations are available on the Relevant Screen Page, the highest (or, 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 Issue and Paying Agent for the purpose of determining the arithmetic mean (rounded as provided above) of such offered quotations. (b) If . The Note Issuance Agreement contains provisions for determining the Rate of Interest in the event that the Relevant Screen Page is not available or if, in the case of Condition 11.4(a)(i(A) above, no offered such quotation appears or, in the case of Condition 11.4(a)(ii(B) above, fewer than three such offered quotations appear, in each case as at the Relevant Timetime specified in the preceding paragraph. Alternatively, provisions dealing with this may be included in the Issuer (or an agent appointed by the Issuer) shall request each of the Reference Banks to provide the Issuer (or an agent appointed by the Issuer) with its offered quotation (expressed as a percentage rate per annum) for applicable Pricing Supplement. If the Reference Rate at approximately from time to time in respect of Floating Rate Notes is specified in the Relevant Time on the Interest Determination Date in question and the Issuer (applicable Pricing Supplement as being other than LIBOR or an agent appointed by the Issuer) shall notify the Issue and Paying Agent of all quotations received by it. If two or more of the Reference Banks provide the Issuer (or an agent appointed by the Issuer) with offered quotationsEURIBOR, the Rate of Interest for the Interest Period shall in respect of such Notes will be the arithmetic mean (rounded if necessary to the fifth decimal place, with 0.000005 being rounded upwards) of the offered quotations plus or minus (as appropriate) the Margin (if any), all as determined by the Issue and Paying Agent.‌ (c) If on any Interest Determination Date one only or none of the Reference Banks provides the Issuer (or an agent appointed by the Issuer) 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 Issuer (or an agent appointed by the Issuer) by the Reference Banks or any two or more of them, at which such banks were offered, at approximately the Relevant Time on the relevant Interest Determination Date, 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 Issuer (or an agent appointed by the Issuer) 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 above) 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 Issuer (or an agent appointed by the Issuer) it is quoting to leading banks in the Euro-zone interbank 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 determined as at the last preceding Interest Determination Date (though substituting, where a different Margin is to 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)applicable Pricing Supplement.

Screen Rate Determination. ‌ (a) Where Screen Rate Determination is specified in the applicable Final Terms as the manner in which the Rate of Interest is to be determined, and unless Condition 11.5, 11.6, 11.7, 11.8, 11.9 or 11.10 applies, the Rate of Interest for each Interest Period willwill be, subject as provided below, be either: (i1) the offered quotationquotation (if there is only one quotation on the relevant screen page (the “Relevant Screen Page”)), whatever its designation; or‌or (ii2) the arithmetic mean (rounded if necessary to the fifth decimal place, with 0.000005 being rounded upwards) of the offered quotations,‌ quotations; (expressed as a percentage rate per annum) for the rate (the “Reference Rate”) by reference to the Rate of Interest which appears or appear, as the case may be, on the Relevant Screen Page on which the Reference Rate is for the time being displayed on the Reuter Monitor Money Rates Service or the appropriate display on Moneyline Telerate, Inc. (or such replacement page on that service which displays as is specified in the informationapplicable Final Terms) as at 11:00 a.m. (London time in the Relevant Time case of LIBOR, or Brussels time in the case of Euribor) on the dates on which the Rate of Interest is to be determined (each, an “Interest Determination Date in question Date”) plus or minus (as indicated in the applicable Final Terms) the Margin (Margin, if any), all as determined by the Issue and Paying Calculation Agent. If five or more of such offered quotations are available on the Relevant Screen Page, the highest (or, if there is more than one such highest quotation, only one only of such quotations) and the lowest (or, if there is more than one such lowest quotation, only one only of such quotations) shall be disregarded by the Issue and Paying Calculation Agent for the purpose purposes of determining the arithmetic mean (rounded as provided above) of such offered quotations. (b) . If the Relevant Screen Page is not available or if, in the case of Condition 11.4(a)(i(1) above, no such offered quotation appears or, in the case of Condition 11.4(a)(ii(2) above, fewer than three two such offered quotations appear, in each case as at the Relevant Timetime specified in the preceding paragraph, the Issuer (or an agent appointed by the Issuer) Calculation Agent, at its sole discretion, shall request the principal London office of each of the Reference Banks to provide the Issuer (or an agent appointed by the Issuer) Calculation Agent with its offered quotation (expressed as a percentage rate per annum) for deposits in the Reference Rate Specified Currency for the relevant Interest Period to leading banks in the London interbank market in the case of LIBOR or leading banks in the Euro-Zone interbank market in the case of Euribor, at approximately 11:00 a.m. (London time in the Relevant Time case of LIBOR, or Brussels time in the case of Euribor) on the Interest Determination Date in question and the Issuer (or an agent appointed by the Issuer) shall notify the Issue and Paying Agent of all quotations received by itquestion. If two or more of the Reference Banks provide the Issuer (or an agent appointed by the Issuer) Calculation Agent with such offered quotations, the Rate of Interest for the such Interest Period shall be the arithmetic mean (rounded if necessary to the fifth decimal place, with 0.000005 being rounded upwards) of the such offered quotations plus or minus (as appropriate) the Margin (Margin, if any), all as determined by the Issue and Paying Agent.‌ (c) Calculation Agent. If on any Interest Determination Date only one only or none of the Reference Banks provides the Issuer (or an agent appointed by the Issuer) Calculation Agent with an such offered quotation quotations 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 Calculation Agent determines as being to be the arithmetic mean (rounded if necessary to the fifth decimal place, with 0.000005 being rounded upwardsas provided above) of the rates, as communicated to (and at the request of) the Issuer (or an agent appointed Calculation Agent by the Issuer) by the Reference Banks or any two or more of themthe Reference Banks, at which such banks were offered, at approximately 11:00 a.m. (London time in the Relevant Time case of LIBOR, or Brussels time in the case of Euribor) on the relevant Interest Determination Date, deposits in the Specified Currency for a period equal to that which would have been used for the Reference Rate relevant Interest Period by leading banks in the London interbank market in the case of LIBOR, or leading banks in the Euro-zone inter-bank Zone interbank market (if in the Reference Rate is EURIBOR) or if the Reference Rate is other than EURIBORcase of Euribor, the inter-bank market of the Relevant Financial Centre plus or minus (as appropriate) the Margin (Margin, if any) or, if . If fewer than two of the Reference Banks provide the Issuer (or an agent appointed by the Issuer) Calculation Agent with such offered ratesquotations, the Rate of Interest shall be the offered rate quotation for deposits in the Specified Currency for a period equal to that which would have been used for the Reference Raterelevant Interest Period, or the arithmetic mean (rounded as provided above) of the offered rates quotations for deposits in the Specified Currency for a period equal to that which would have been used for the Reference Raterelevant Interest Period, at which, at approximately 11:00 a.m. (London time in the Relevant Time case of LIBOR, or Brussels time in the case of Euribor) 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 Issuer (or an agent appointed by the Issuer) Calculation Agent it is quoting to leading banks in the London interbank market in the case of LIBOR or leading banks in the Euro-zone Zone interbank market (if in the Reference Rate is EURIBOR) or if the Reference Rate is other than EURIBORcase of Euribor, the inter-bank market of the Relevant Financial Centre plus or minus (as appropriate) the Margin (Margin, if any), provided that, that if the Rate of Interest cannot be determined in accordance with the foregoing provisions of this paragraph, the Rate of Interest shall be determined as at the last preceding Interest Determination Date (though substituting, where a different Margin is to 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 Period, in place of the Margin relating to that last preceding Interest Period).

Screen Rate Determination. ‌ (a) Where If Screen Rate Determination is specified in the Final Loan Transaction Terms as the manner in which the Interest Rate of Interest is to be determined, and unless Condition 11.5, 11.6, 11.7, 11.8, 11.9 or 11.10 applies, the Interest Rate of Interest applicable to the Floating Advance for each Loan Interest Period will, subject will be determined by the Agent Bank as provided below, be either: (ia) the offered quotation; or‌or (iib) the arithmetic mean (rounded if necessary to the fifth decimal place, with 0.000005 being rounded upwards) of the offered quotations,‌ quotations, (expressed as a percentage rate per annum) for the Reference Rate as specified in the Loan Transaction Terms 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 11.00 a.m. (London time, in the Relevant Time case of LIBOR, or Brussels time, in the case of EURIBOR) (or at such other time specified in the Loan Transaction Terms) on the Interest Determination Date in question plus or minus (as indicated specified in the Final Loan Transaction Terms) the Margin (if any), all as determined by the Issue and Paying AgentAgent Bank. If five or more of such offered quotations are available on the Relevant Screen Page, the highest (or, 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 Issue and Paying Agent Bank for the purpose of determining the arithmetic mean (rounded as provided above) of such offered quotations. (b) If . In the event of the Relevant Screen Page is not available or if, in the case of Condition 11.4(a)(i(a) above, no such offered quotation appears or, in the case of Condition 11.4(a)(ii(b) above, fewer than three such offered quotations appear, in each case as at the Relevant Time, the Issuer (or an agent appointed by the Issuer) shall request each of the Reference Banks to provide the Issuer (or an agent appointed by the Issuer) with its offered quotation (expressed as a percentage rate per annum) for the Reference Rate at approximately the Relevant Time on the Interest Determination Date in question and the Issuer (or an agent appointed by the Issuer) shall notify the Issue and Paying Agent of all quotations received by it. If two or more of the Reference Banks provide the Issuer (or an agent appointed by the Issuer) with offered quotations, the Rate of Interest for the Interest Period shall be the arithmetic mean (rounded if necessary to the fifth decimal place, with 0.000005 being rounded upwards) of the offered quotations plus or minus (as appropriate) the Margin (if any), all as determined by the Issue and Paying Agent.‌ (c) If on any Interest Determination Date one only or none of the Reference Banks provides the Issuer (or an agent appointed by the Issuer) with an offered quotation as provided time specified in the preceding paragraph, the Interest 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 Issuer (or an agent appointed determined by the Issuer) by the Reference Banks or any two or more of them, at which such banks were offered, at approximately the Relevant Time on the relevant Interest Determination Date, 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 Issuer (or an agent appointed by the Issuer) 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 above) 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 Issuer (or an agent appointed by the Issuer) it is quoting to leading banks in the Euro-zone interbank 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 Agent Bank in accordance with the foregoing provisions calculation of this paragraph, the equivalent rate of interest in respect of the corresponding Notes. Unless otherwise stated in the applicable Loan Transaction Terms the Minimum Rate of Interest shall be determined as at the last preceding Interest Determination Date (though substituting, where a different Margin is deemed to 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)zero.

Screen Rate Determination. ‌ (a) 15.1.1 Where Screen Rate Determination is specified in the Final Terms Applicable Pricing Supplement as the manner in which the Interest Rate of Interest is to be determined, and unless Condition 11.5, 11.6, 11.7, 11.8, 11.9 or 11.10 applies, the Interest Rate of Interest for each Interest Period will, subject save as provided below, be either:either - (i) 15.1.1.1 the offered quotationquotation (if there is only one quotation on the Relevant Screen Page); or‌or (ii) 15.1.1.2 the arithmetic mean (rounded if necessary to the fifth decimal place, with 0.000005 0.00005 being rounded upwards) of the offered quotations,‌ (expressed as a percentage rate per annum) quotations, 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 the Relevant Time 12h00 (Johannesburg time) on the Interest Determination Date in question question, plus or minus (as indicated specified in the Final TermsApplicable Pricing Supplement) the Margin (if any), all as determined by the Issue and Paying Calculation Agent. If five or more of such offered quotations are available on the Relevant Screen Page, the highest (or, 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 Issue and Paying Transfer Agent for the purpose of determining the arithmetic mean (rounded as provided above) of such offered quotations. (b) 15.1.2 If the Relevant Screen Page is not available or if, in the case of Condition 11.4(a)(i) above15.1.1.1, no such offered quotation appears or, in the case of Condition 11.4(a)(ii) above15.1.1.2, fewer than three such offered quotations appear, in each case as at the Relevant Timetime specified in the preceding paragraph, the Issuer (or an agent appointed by the Issuer) Calculation Agent shall request the principal Johannesburg office of each of the Reference Banks to provide the Issuer (or an agent appointed by the Issuer) Calculation Agent with its offered quotation (expressed as a percentage rate per annum) for the Reference Rate at approximately the Relevant Time 12h00 (Johannesburg time) on the Interest Determination Date in question and the Issuer (or an agent appointed by the Issuer) shall notify the Issue and Paying Agent of all quotations received by itquestion. If two or more of the Reference Banks provide the Issuer (or an agent appointed by the Issuer) Calculation Agent with such offered quotations, the Interest Rate of Interest for the such Interest Period shall be the arithmetic mean (rounded if necessary to the fifth decimal place, place with 0.000005 0.00005 being rounded upwards) of the such offered quotations plus or minus (as appropriate) the Margin (if any), all as determined by the Issue Calculation Agent. 15.1.3 If the Interest Rate cannot be determined by applying the provisions of clauses 15.1.1 and Paying Agent.‌ (c) If on any Interest Determination Date one only or none of the Reference Banks provides the Issuer (or an agent appointed by the Issuer) with an offered quotation as provided in the preceding paragraph15.1.2, the Interest Rate of Interest for the relevant Interest Period shall be the rate per annum which the Issue and Paying Calculation Agent determines as being the arithmetic mean (rounded if necessary to the fifth decimal place, with 0.000005 0.00005 being rounded upwards) of the rates, as communicated to (and at the request of) the Issuer (or an agent appointed by the Issuer) Calculation Agent by the Reference Banks or any two or more of them, at which such banks were offered, at approximately the Relevant Time 12h00 (Johannesburg time) on the relevant Interest Determination Date, in respect of deposits in an amount approximately equal to the Specified Currency nominal amount of the Notes of the relevant Series for a period equal to that which would have been used for the Reference Rate by leading to prime banks in the Euro-zone Johannesburg 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 ). If fewer than two of the Reference Banks provide the Issuer (or an agent appointed by the Issuer) Calculation Agent with such offered rates, the offered rate Interest Rate for the relevant Interest Period will be determined by the Calculation Agent as the arithmetic mean (rounded as provided above) of the rates for deposits in an amount approximately equal to the Specified Currency nominal amount of the Notes of the relevant Series, for a period equal to that which would have been used for the Reference Rate, or the arithmetic mean (rounded as provided above) 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, quoted at approximately the Relevant Time 12h00 (Johannesburg time) on the relevant Interest Determination Date, any one or more by four leading banks in Johannesburg (which bank or banks is or are in selected by the opinion of the Issuer suitable for the purpose) informs the Issuer (or an agent appointed Calculation Agent and approved by the Issuer) it is quoting to leading banks in the Euro-zone interbank 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 . If the Interest Rate of Interest cannot be determined in accordance with the foregoing provisions of this paragraphclause, the Interest Rate of Interest shall be determined as at the last preceding Interest Determination Date (though substituting, where a different Margin is to 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 Period, in place of the Margin relating to that last preceding Interest Period). 15.1.4 If the Reference Rate from time to time in respect of Floating Rate Notes is specified in the Applicable Pricing Supplement as being other than ZAR-JIBAR-SAFEX, the Interest Rate in respect of such Notes will be determined as provided in the Applicable Pricing Supplement.

Screen Rate Determination. ‌ (a) Where Screen Rate Determination is specified in the Final Terms applicable Pricing Supplement as the manner in which the Rate of Interest is to be determined, and unless Condition 11.5, 11.6, 11.7, 11.8, 11.9 or 11.10 applies, the Rate of Interest for each Interest Period will, subject as provided below, be either: (iA) the offered quotationquotation (if there is only one quotation on the Relevant Screen Page); or‌or (iiB) the arithmetic mean (rounded if necessary to the fifth decimal place, with 0.000005 being rounded upwards) of the offered quotations,‌ quotations, (expressed as a percentage rate per annum) for deposits in the Reference Rate Specified Currency for the relevant Interest Period 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 11.00 a.m. (London time, in the Relevant Time case of LIBOR, or Brussels time, in the case of EURIBOR) on the Interest Determination Date in question plus or minus (as indicated in the Final Termsapplicable Pricing Supplement) the Margin (if any), all as determined by the Issue and Paying Agent. If five or more of such offered quotations are available on the Relevant Screen Page, the highest (or, 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 Issue and Paying Agent for the purpose of determining the arithmetic mean (rounded as provided above) of such offered quotations. (b) If . The Note Issuance Agreement contains provisions for determining the Rate of Interest in the event that the Relevant Screen Page is not available or if, in the case of Condition 11.4(a)(i(A) above, no offered such quotation appears or, in the case of Condition 11.4(a)(ii(B) above, fewer than three such offered quotations appear, in each case as at the Relevant Timetime specified in the preceding paragraph. Alternatively, provisions dealing with this may be included in the Issuer (or an agent appointed by the Issuer) shall request each of the Reference Banks to provide the Issuer (or an agent appointed by the Issuer) with its offered quotation (expressed as a percentage rate per annum) for applicable Pricing Supplement. If the Reference Rate at approximately from time to time in respect of Floating Rate Notes is specified in the Relevant Time on the Interest Determination Date in question and the Issuer (applicable Pricing Supplement as being other than LIBOR or an agent appointed by the Issuer) shall notify the Issue and Paying Agent of all quotations received by it. If two or more of the Reference Banks provide the Issuer (or an agent appointed by the Issuer) with offered quotationsEURIBOR, the Rate of Interest for the Interest Period shall in respect of such Notes will be the arithmetic mean (rounded if necessary to the fifth decimal place, with 0.000005 being rounded upwards) of the offered quotations plus or minus (as appropriate) the Margin (if any), all as determined by the Issue and Paying Agent.‌ (c) If on any Interest Determination Date one only or none of the Reference Banks provides the Issuer (or an agent appointed by the Issuer) 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 Issuer (or an agent appointed by the Issuer) by the Reference Banks or any two or more of them, at which such banks were offered, at approximately the Relevant Time on the relevant Interest Determination Date, 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 Issuer (or an agent appointed by the Issuer) 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 above) 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 Issuer (or an agent appointed by the Issuer) it is quoting to leading banks in the Euro-zone interbank 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 determined as at the last preceding Interest Determination Date (though substituting, where a different Margin is to 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)applicable Pricing Supplement.

Screen Rate Determination. ‌ (a) Where Screen Rate Determination is specified in the Final Terms applicable Pricing Supplement as the manner in which the Rate of Interest is to be determined, and unless Condition 11.5, 11.6, 11.7, 11.8, 11.9 or 11.10 appliesdetermined (“Screen Rate Determination”), the Rate of Interest for each Interest Period willwill be, subject as provided below, be either: (i1) the offered quotationquotation (if there is only one quotation on the relevant screen page (the “Relevant Screen Page”)), whatever its designation; or‌or (ii2) the arithmetic mean (rounded if necessary to the fifth decimal place, with 0.000005 being rounded upwards) of the offered quotations,‌ quotations; (expressed as a percentage rate per annum) for the rate (the “Reference Rate”) by reference to which the Rate of Interest which appears or appear, as the case may be, on the Relevant Screen Page on which the Reference Rate is for the time being displayed on the Reuter Monitor Money Rates Service or the appropriate display on Bridge Telerate, Inc. (or such replacement page on that service which displays as is specified in the informationapplicable Pricing Supplement) as at 11:00 a.m. (London time in the Relevant Time case of LIBOR, or Brussels time in the case of Euribor) on the dates on which the Rate of Interest is to be determined (each, an “Interest Determination Date in question Date”) plus or minus (as indicated in the Final Termsapplicable Pricing Supplement) the Margin (Margin, if any), all as determined by the Issue and Paying Calculation Agent. If five or more of such offered quotations are available on the Relevant Screen Page, the highest (or, if there is more than one such highest quotation, only one only of such quotations) and the lowest (or, if there is more than one such lowest quotation, only one only of such quotations) shall be disregarded by the Issue and Paying Calculation Agent for the purpose purposes of determining the arithmetic mean (rounded as provided above) of such offered quotations. (b) . If the Relevant Screen Page is not available or if, in the case of Condition 11.4(a)(i(1) above, no such offered quotation appears or, in the case of Condition 11.4(a)(ii(2) above, fewer than three such offered quotations appear, in each case as at the Relevant Timetime specified in the preceding paragraph, the Issuer (or an agent appointed by Calculation Agent shall at its sole discretion request the Issuer) shall request principal London office of each of the Reference Banks (as defined herein) to provide the Issuer (or an agent appointed by the Issuer) Calculation Agent with its offered quotation (expressed as a percentage rate per annum) for deposits in the Reference Rate Specified Currency for the relevant Interest Period to leading banks in the London interbank market in the case of LIBOR or leading banks in the Euro-Zone interbank market in the case of Euribor, at approximately 11:00 a.m. (London time in the Relevant Time case of LIBOR, or Brussels time in the case of Euribor) on the Interest Determination Date in question and the Issuer (or an agent appointed by the Issuer) shall notify the Issue and Paying Agent of all quotations received by itquestion. If two or more of the Reference Banks provide the Issuer (or an agent appointed by the Issuer) Calculation Agent with such offered quotations, the Rate of Interest for the such Interest Period shall be the arithmetic mean (rounded if necessary to the fifth decimal placenecessary, with 0.000005 being rounded upwards) of the such offered quotations plus or minus (as appropriate) the Margin (Margin, if any), all as determined by the Issue and Paying Agent.‌ (c) Calculation Agent. If on any Interest Determination Date only one only or none of the Reference Banks provides the Issuer (or an agent appointed by the Issuer) Calculation Agent with an such offered quotation quotations 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 Calculation Agent determines as being to be the arithmetic mean (rounded if necessary to the fifth decimal place, with 0.000005 being rounded upwardsas provided above) of the rates, as communicated to (and at the request of) the Issuer (or an agent appointed Calculation Agent by the Issuer) by the Reference Banks or any two or more of themthe Reference Banks, at which such banks were offered, at approximately 11:00 a.m. (London time in the Relevant Time case of LIBOR, or Brussels time in the case of Euribor) on the relevant Interest Determination Date, deposits in the Specified Currency for a period equal to that which would have been used for the Reference Rate relevant Interest Period by leading banks in the London interbank market in the case of LIBOR, or leading banks in the Euro-zone inter-bank Zone interbank market (if in the Reference Rate is EURIBOR) or if the Reference Rate is other than EURIBORcase of Euribor, the inter-bank market of the Relevant Financial Centre plus or minus (as appropriate) the Margin (Margin, if any) or, if . If fewer than two of the Reference Banks provide the Issuer (or an agent appointed by the Issuer) Calculation Agent with such offered ratesquotations, the Rate of Interest shall be the offered rate quotation for deposits in the Specified Currency for a period equal to that which would have been used for the Reference Raterelevant Interest Period, or the arithmetic mean (rounded as provided above) of the offered rates quotations for deposits in the Specified Currency for a period equal to that which would have been used for the Reference Raterelevant Interest Period, at which, at approximately 11:00 a.m. (London time in the Relevant Time case of LIBOR, or Brussels time in the case of Euribor) 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 Issuer (or an agent appointed by the Issuer) Calculation Agent it is quoting to leading banks in the London interbank market in the case of LIBOR or leading banks in the Euro-zone Zone interbank market (if in the Reference Rate is EURIBOR) or if the Reference Rate is other than EURIBORcase of Euribor, the inter-bank market of the Relevant Financial Centre plus or minus (as appropriate) the Margin (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 determined as at the last preceding Interest Determination Date (though substituting, where a different Margin is to 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 Period, in place of the Margin relating to that last preceding Interest Period).

Screen Rate Determination. ‌ (a) 11.1.1 Where Screen Rate Determination is specified in the Final Terms Applicable Pricing Supplement as the manner in which the Interest Rate of Interest is to be determined, and unless Condition 11.5, 11.6, 11.7, 11.8, 11.9 or 11.10 applies, the Interest Rate of Interest for each Interest Period will, subject save as provided below, be either:either - (i) 11.1.1.1 the offered quotationquotation (if there is only one quotation on the Relevant Screen Page); or‌or (ii) 11.1.1.2 the arithmetic mean (rounded if necessary to the fifth decimal place, with 0.000005 0.00005 being rounded upwards) of the offered quotations,‌ (expressed as a percentage rate per annum) quotations, 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 the Relevant Time 12h00 (Johannesburg time) on the Interest Determination Date in question plus or minus (as indicated in the Final TermsApplicable Pricing Supplement) the Margin (if any), all as determined by the Issue and Paying Calculation Agent. If five or more of such offered quotations are available on the Relevant Screen Page, the highest (or, 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 Issue and Paying Calculation Agent for the purpose of determining the arithmetic mean (rounded as provided above) of such offered quotations. (b) 11.1.2 If the Relevant Screen Page is not available or if, in the case of Condition 11.4(a)(i) clause 11.1.1.1 above, no such offered quotation appears or, in the case of Condition 11.4(a)(ii) 11.1.1.2 above, fewer than three such offered quotations appear, in each case as at the Relevant Time, time specified in the Issuer (or an agent appointed by preceding clause the Issuer) Calculation Agent shall request the principal Johannesburg office of each of the Reference Banks (as defined below) to provide the Issuer (or an agent appointed by the Issuer) Calculation Agent with its offered quotation (expressed as a percentage rate per annum) for the Reference Rate at approximately the Relevant Time 12h00 (Johannesburg time) on the Interest Determination Date in question and the Issuer (or an agent appointed by the Issuer) shall notify the Issue and Paying Agent of all quotations received by itquestion. If two or more of the Reference Banks provide the Issuer (or an agent appointed by the Issuer) Calculation Agent with such offered quotations, the Interest Rate of Interest for the such Interest Period shall be the arithmetic mean (rounded if necessary to the fifth decimal place, place with 0.000005 0.00005 being rounded upwards) of the such offered quotations plus or minus (as appropriate) the Margin (if any), all as determined by the Issue Calculation Agent. 11.1.3 If the Interest Rate cannot be determined by applying the provisions of clauses 11.1.1 and Paying Agent.‌ (c) If on any Interest Determination Date one only or none of the Reference Banks provides the Issuer (or an agent appointed by the Issuer) with an offered quotation as provided in the preceding paragraph11.1.2 above, the Interest Rate of Interest for the relevant Interest Period shall be the rate per annum which the Issue and Paying Calculation Agent determines as being the arithmetic mean (rounded if necessary to the fifth decimal place, with 0.000005 0.00005 being rounded upwards) of the rates, as communicated to (and at the request of) the Issuer (or an agent appointed by the Issuer) Calculation Agent by the Reference Banks or any two or more of them, at which such banks were offered, at approximately the Relevant Time 12h00 (Johannesburg time) on the relevant Interest Determination Date, deposits in an amount approximately equal to the Specified Currency nominal amount of the Notes of the relevant Series, for a period equal to that which would have been used for the Reference Rate by leading to prime banks in the Euro-zone Johannesburg 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 ). If fewer than two of the Reference Banks provide the Issuer (or an agent appointed by the Issuer) Calculation Agent with such offered rates, the offered rate Interest Rate for the relevant Interest Period will be determined by the Calculation Agent as the arithmetic mean (rounded as provided above) of the rates for deposits in an amount approximately equal to the Specified Currency nominal amount of the Notes of the relevant Series, for a period equal to that which would have been used for the Reference Rate, or the arithmetic mean (rounded as provided above) 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, quoted at approximately the Relevant Time 12h00 Johannesburg time on the relevant Interest Determination Date, any one or more by four leading banks in Johannesburg (which bank or banks is or are in selected by the opinion of the Issuer suitable for the purpose) informs the Issuer (or an agent appointed Calculation Agent and approved by the Issuer) it is quoting to leading banks in the Euro-zone interbank 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 . If the Interest Rate of Interest cannot be determined in accordance with the foregoing provisions of this paragraphclause, the Interest Rate of Interest shall be determined as at the last preceding Interest Determination Date (though substituting, where a different Margin is to 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 Period, in place of the Margin relating to that last preceding Interest Period). 11.1.4 If the Reference Rate from time to time in respect of Floating Rate Notes is specified in the Applicable Pricing Supplement as being other than ZAR-JIBAR-SAFEX, the Interest Rate in respect of such Notes will be determined as provided in the Applicable Pricing Supplement.