Initial Conversion MRF Discretionary Amount means £300,000 (being equal to 0.04 per cent. of the aggregate Initial Principal Amount of the Notes).
Daily Conversion Value means, for each of the 40 consecutive Trading Days during the relevant Observation Period, 2.5% of the product of (a) the Conversion Rate on such Trading Day and (b) the Daily VWAP on such Trading Day.
Conversion Amount means the sum of the Stated Value at issue.