Compounded Daily Reference Rate means, with respect to an Interest Period, the rate of return of a daily compound interest investment in the Specified Currency (with the applicable Reference Rate (as indicated in the applicable Final Terms and further provided for below) as the reference rate for the calculation of interest) and will be calculated by the Principal Paying Agent on the relevant Interest Determination Date, as follows, and the resulting percentage will be rounded, if necessary, to the Relevant Decimal Place:
Compounded Daily Reference Rate means, with respect to an Interest Period, the rate of return of a daily compound interest investment in the Specified Currency (with the applicable Reference Rate - being either SONIA or SOFR, as specified in the applicable Final Terms and further described below - as the reference rate for the calculation of interest) as calculated by the Principal Paying Agent (or such other party responsible for the calculation of the Rate of Interest, as specified in the applicable Final Terms) as at the relevant Interest Determination Date, in accordance with the following formula (and the resulting percentage will be rounded if necessary to the nearest fifth decimal place, with 0.000005 being rounded upwards):
Compounded Daily Reference Rate means, with respect to an Interest Period, the rate of return of a daily compound interest investment in the Specified Currency (with the applicable Reference Rate (as indicated in the applicable Final Terms and further provided for below) as the reference rate for the calculation of interest) and will be calculated by the Principal Paying Agent on the relevant Interest Determination Date, as follows, and the resulting percentage will be rounded, if necessary, to the Relevant Decimal Place: Where:
Examples of Compounded Daily Reference Rate in a sentence
As such, the missing cases do not seem to indicate structural retention patterns.
If the Notes become due and payable under Condition 10, the accrued interest and the Rate of Interest payable in respect of the Notes shall, subject in the case of each of the XXXXX Compounded Index Rate and the XXXXX Compounded Daily Reference Rate to Condition 5(b)(iii)(C)(y)(i), nevertheless continue to be calculated as previously in accordance with this Condition but no publication of the Rate of Interest or the Interest Amount so calculated need be made.
The Issuer may in the future also issue Notes referencing a Compounded Daily Reference Rate (which may, if so specified in the applicable Final Terms or Pricing Supplement, be determined by reference to the applicable Compounded Index) or Weighted Average Daily Reference Rate that differ materially in terms of interest determination when compared with any previous Notes referencing the applicable Compounded Daily Reference Rate or Weighted Average Daily Reference Rate issued by it under this Programme.
In addition, some investors may be unwilling or unable to trade such Notes without changes to their information technology systems, both of which could adversely impact the liquidity and trading price of any Series of Notes with a Compounded Daily Reference Rate or Weighted Average Daily Reference Rate.
Interest payments due on a Series of Notes with a Compounded Daily Reference Rate or Weighted Average Daily Reference Rate will be determined only at the end of the relevant Interest Period.
More Definitions of Compounded Daily Reference Rate
Compounded Daily Reference Rate means, with respect to an Interest Period, the rate of return of a daily compound interest investment (with SOFR or SONIA as the Reference Rate for the calculation of interest as specified in the applicable Final Terms), which will be calculated by the Calculation Agent, as at the relevant Reference Rate Determination Date as follows, and the resulting percentage will be rounded, if necessary, (in the case of SONIA) to the fourth decimal place, with 0.00005 being rounded upwards and (in the case of SOFR) to the fifth decimal place, with 0.000005 being rounded upwards:
Compounded Daily Reference Rate means, with respect to an Interest Period, the rate of return of a daily compound interest investment in the Specified Currency (with the applicable Reference Rate (as indicated in the applicable Final Terms and further provided for below) as the reference rate for the calculation of interest) and will be calculated by the Calculation Agent (or such other party responsible for the calculation of the Rate of Interest, as specified in the applicable Final Terms) on the Interest Determination Date, as follows, and the resulting percentage will be rounded, if necessary, to the fifth decimal place, with 0.000005 being rounded upwards: where:
Compounded Daily Reference Rate means, with respect to an Interest Accrual Period, the rate of return of a daily compound interest investment in the Specified Currency (with the applicable Reference Rate – being either SONIA or SOFR, as specified in the relevant Final Terms or Pricing Supplement and further described below – as the reference rate for the calculation of interest) as calculated by the Calculation Agent as at the relevant Interest Determination Date as further specified in the relevant Final Terms or Pricing Supplement, in accordance with the relevant following formula (expressed as a percentage rate per annum and rounded, if necessary, to the nearest 0.001 per cent. (0.0005 per cent. being rounded upwards)):
Compounded Daily Reference Rate means, with respect to an Interest Accrual Period, the rate of return of a daily compound interest investment in the Specified Currency (with the applicable Reference Rate (as indicated in the applicable Final Terms and further provided for below) as the reference rate for the calculation of interest) and will be
Compounded Daily Reference Rate means, with respect to a Return Accumulation Period, the rate of return of a daily compound profit investment in the Specified Currency (with the applicable Reference Rate (as indicated in the relevant Final Terms and further provided for below) as the reference rate for the calculation of profit) and will be calculated by the Principal Paying Agent (or such other party responsible for the calculation of the Rate, as specified in the relevant Final Terms) as at the relevant Periodic Distribution Determination Date as follows, and the resulting percentage will be rounded, if necessary, to the fifth decimal place, with 0.000005 being rounded upwards: where:
Compounded Daily Reference Rate means, with respect to an Interest Period, the rate of return of a daily compound interest investment in the Specified Currency (with the applicable Reference Rate – being either SONIA, SOFR or €STR, as specified in the relevant Final Terms or, in the case of Exempt Notes, the relevant Pricing Supplement, and further described below – as the reference rate for the calculation of interest) as calculated by the Calculation Agent as at the relevant Interest Determination Date as further specified in the relevant Final Terms or, in the case of Exempt Notes, the relevant Pricing Supplement in accordance with the relevant following formula (and the resulting percentage will be rounded if necessary to the fifth decimal place, with 0.000005 being rounded upwards):
Compounded Daily Reference Rate means, with respect to an Interest Accrual Period, the rate of return of a daily compound interest investment in the Specified Currency (with the applicable Reference Rate (as indicated in the applicable Final Terms and further provided for below) as the reference rate for the calculation of interest) and will be calculated by the Principal Paying Agent (or such other party responsible for the calculation of the Rate of Interest, as specified in the applicable Final Terms) on the Interest Determination Date, as follows, and the resulting percentage will be rounded if necessary to the fifth decimal place, with 0.000005 being rounded upwards: D is the number specified in the applicable Final Terms; d is the number of calendar days in the relevant Interest Accrual Period; do is the number of Business Days in the relevant Interest Accrual Period; i is a series of whole numbers from one to do, each representing the relevant Business Days in chronological order from, and including, the first Business Day in the relevant Interest Accrual Period; ni, for any Business Day "i", means the number of calendar days from and including such Business Day "i" up to but excluding the following Business Day; p means, for any Interest Accrual Period where "Lag" is specified as the Observation Method in the applicable Final Terms, the number of Business Days included in the Observation Look-Back Period specified in the applicable Final Terms (or, if no such number is specified five Business Days);