CMS Rate2 definition

CMS Rate2 means the CMS Reference Rate determined with reference to the Second Reference Currency, the Second Designated Maturity, the Second Relevant Screen Page and the Second Relevant Time.For the purposes of this Condition 6.2(b)(iii), the “CMS Reference Rate” for an Interest Period means the Relevant Swap Rate for swap transactions in the Reference Currency with a maturity of the Designated Maturity (as specified in the applicable Final Terms or, in the case of Exempt Notes the Pricing Supplement) commencing on the first day of the relevant Interest Period(expressed as a percentage rate per annum) which appears on the Relevant Screen Page (as specified in the applicable Final Terms or, in the case of Exempt Notes the Pricing Supplement) as at the Relevant Time (as specified in the applicable Final Terms or, in the case of Exempt Notes the Pricing Supplement) on the relevant Interest Determination Date, all as determined by the Agent or another calculation agent (as specified in the applicable Final Terms or, in the case of Exempt Notes the Pricing Supplement) (the “Calculation Agent”).If the Relevant Screen Page is not available, the Issuer and/or an agent appointed by the Issuer shall request each of the CMS Reference Banks to provide the Issuer and/or an agent appointed by the Issuer with its quotation for the Relevant Swap Rate (expressed as a percentage rate per annum) at approximately the Relevant Time on the Interest Determination Date in question. If two or more of the CMS Reference Banks provide the Issuer and/or an agent appointed by the Issuer with such quotations, the CMS Reference Rate for such Interest Period shall be the arithmetic mean (rounded if necessary to the fifth decimal place, with 0.000005 being rounded upwards) of the quotations, eliminating the highest quotation (or, in the event of equality, one of the highest) and the lowest quotation (or, in the event of equality, one of the lowest).If on any Interest Determination Date one only or none of the Reference Banks provides the Issuer and/or an agent appointed by the Issuer with such quotations as provided in the preceding paragraph, the CMS Reference Rate shall be determined by the Calculation Agent in its sole and absolute discretion on a commercial basis as it shall consider appropriate and in accordance with standard market practice.
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CMS Rate2 means, with respect to any Interest Determination Date relating to a CMS Linked Note, the rate for Euro swaps with a designated maturity for a specified number of years (as specified in the applicable Final Terms as Designated Maturity2) which appears on Reuters ISDAFIX1 Page (the ‘ISDAFIX1 Page’) as of 11:00 a.m., Brussels time, on the related Interest Determination Date.
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CMS Rate2 means the CMS Reference Rate determined with reference to the Second Reference Currency, the Second Designated Maturity, the Second Relevant Screen Page and the Second Relevant Time.
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Examples of CMS Rate2 in a sentence

  • If fewer than three leading swap dealers selected by the Calculation Agent are quoting as described above, CMS Rate1 or CMS Rate2 will remain the rate, as applicable, in effect on that Interest Determination Date or, if that Interest Determination Date is the first Interest Determination Date, CMS Rate1 or CMS Rate2 in effect on the Interest Commencement Date.‘ Margin2’ has the meaning specified in the applicable Final Terms.

  • If the information set out under (1) is no longer displayed by 11:00 a.m. Brussels time on the Interest Determination Date, then the CMS Rate1 or CMS Rate2, as applicable, will be a percentage determined on the basis of the mid-market, annual swap rate quotations provided by five leading swap dealers in the Eurozone interbank market at approximately 11:00 a.m., Brussels time on the Interest Determination Date.

  • If at least three quotations are provided, the CMS Rate1 or CMS Rate2 for that Interest Determination Date will be the arithmetic mean of the quotations, eliminating the highest and lowest quotations or, in the event of equality, one of the highest and one of the lowest quotations.

  • If any Maximum: - FBF Rate/ FBF Rate1/ FBF Rate2, - ISDA Rate/ ISDA Rate1/ ISDA Rate2, - Relevant Rate/ Relevant Rate1/ Relevant Rate2, - CMS Rate/ CMS Rate1/ CMS Rate2 is specified in the relevant Final Terms for any Interest Period, then, in the event that such reference rate in respect of any such Interest Period is greater than such Maximum reference rate, the reference rate for such Interest Period shall be such Maximum reference rate.

  • If any Minimum: - FBF Rate/ FBF Rate1/ FBF Rate2, - ISDA Rate/ ISDA Rate1/ ISDA Rate2, - Relevant Rate/ Relevant Rate1/ Relevant Rate2, - CMS Rate/ CMS Rate1/ CMS Rate2 is specified in the relevant Final Terms for any Interest Period, then, in the event that such reference rate in respect of any such Interest Period is less than such Minimum reference rate, the reference rate for such Interest Period shall be such Minimum reference rate.

  • Business Centre(s):(vi) Multiplier2:(vii) Multiplier3:(viii) Multiplier4:[[[[]]]](ix) CMS Rate1:[] ( subject to the fall-back provisions set out inDollar][Not Applicable] (x) CMS Rate2: [ ] (subject to the fall-back provisions set out in Condition 5.2.) - Designated Maturity2: [ ] - Designated Reference: [Swiss Franc][Sterling][Japanese Yen][U.S. Dollar][Not Applicable] (xi) Margin2: [ ] (xii) Minimum Rate of Interest: [ ] per cent.

Related to CMS Rate2

  • Federal Funds Rate means, for any day, the rate per annum equal to the weighted average of the rates on overnight Federal funds transactions with members of the Federal Reserve System arranged by Federal funds brokers on such day, as published by the Federal Reserve Bank of New York on the Business Day next succeeding such day; provided that (a) if such day is not a Business Day, the Federal Funds Rate for such day shall be such rate on such transactions on the next preceding Business Day as so published on the next succeeding Business Day, and (b) if no such rate is so published on such next succeeding Business Day, the Federal Funds Rate for such day shall be the average rate (rounded upward, if necessary, to a whole multiple of 1/100 of 1%) charged to Bank of America on such day on such transactions as determined by the Administrative Agent.

  • Treasury Rate means, with respect to any redemption date, the rate per annum equal to the semi-annual equivalent yield to maturity of the Comparable Treasury Issue, assuming a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the Comparable Treasury Price for such redemption date.

  • Alternate Base Rate means, for any day, a rate per annum equal to the greater of (a) the Prime Rate in effect on such day and (b) the Federal Funds Effective Rate in effect on such day plus 1/2 of 1%. Any change in the Alternate Base Rate due to a change in the Prime Rate or the Federal Funds Effective Rate shall be effective from and including the effective date of such change in the Prime Rate or the Federal Funds Effective Rate, respectively.