Common use of Zero Coupon Debt Instruments Clause in Contracts

Zero Coupon Debt Instruments. In the case of Zero Coupon Debt Instruments (unless otherwise specified in the relevant Final Terms), the Early Redemption Amount will be an amount (“Amortised Face Amount”) equal to the sum of: (a) the Reference Price (as defined in the relevant Final Terms); and (b) the product of the Accrual Yield (as defined in the relevant Final Terms) (compounded annually unless otherwise specified in the relevant Final Terms) being applied to the Reference Price (as defined in the relevant Final Terms) from (and including) the Issue Date to (but excluding) the date fixed for redemption or (as the case may be) the date upon which such Debt Instrument becomes due and repayable. Where such calculation is to be made for a period which is not a whole number of years, it shall be made on the basis of a 360-day year consisting of 12 months of 30 days each or such other calculation basis as may be specified in the relevant Final Terms.

Zero Coupon Debt Instruments. In the case of Zero Coupon Debt Instruments (unless otherwise specified in the relevant Final Terms), the Early Redemption Amount will be an amount (“Amortised “Amortised Face Amount”Amount”) equal to the sum of: (a) the Reference Price (as defined in the relevant Final Terms); and (b) the product of the Accrual Yield (as defined in the relevant Final Terms) (compounded annually unless otherwise specified in the relevant Final Terms) being applied to the Reference Price (as defined in the relevant Final Terms) from (and including) the Issue Date to (but excluding) the date fixed for redemption or (as the case may be) the date upon which such Debt Instrument becomes due and repayable. Where such calculation is to be made for a period which is not a whole number of years, it shall be made on the basis of a 360-day year consisting of 12 months of 30 days each or such other calculation basis as may be specified in the relevant Final Terms.