Initial Credit Spread definition

Initial Credit Spread means 1.61 per cent.

Initial Credit Spread means the interest percentage referred to in Article 2:6(c) of DNB's Supervisory Regulation on the Recognition of Hybrid Instruments as Regulatory Capital Components dated 11 December 2007, to be determined and published by the Issuer on or about 31 July 2009. This interest percentage is calculated as the spread between the Fixed Coupon Rate and the 10 year EUR mid-swap rate as published on Bloomberg page EUSW;

Initial Credit Spread means 4.27 per cent. per annum.

Examples of Initial Credit Spread in a sentence

• On the Reset Date (or on each Reset Date, if more than one Reset Date is specified), the Rate of Interest will be reset to the aggregate of the applicable Subsequent Reset Reference Rate, the applicable Initial Credit Spread and the applicable Step-Up Margin (each as defined in the Terms and Conditions of the Senior Notes, the Terms and Conditions of the Tier 3 Notes and in the Terms and Conditions of the Tier 2 Notes), as determined by the Calculation Agent.

• If two or more of the Reference Banks provide the Calculation Agent with offered quotations, the Subsequent Reset Rate for the relevant Reset 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 applicable Initial Credit Spread and Step-Up Margin (if any), all as determined by the Calculation Agent.

• If two or more of the Reference Banks provide the Calculation Agent with offered quotations,the Subsequent Reset Rate for the relevant Reset 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 applicable Initial Credit Spread and Step-Up Margin (if any), all as determined by the Calculation Agent.

• The Debentures’ interest rates during the first year to the fifth year is 5%, and after the fifth year the interest rate is adjusted every 5 years based on: (1) 5-year government bond yield, (2) Initial Credit Spread, and(3) percentage as stipulated in the prospectus; and will be paid on a semi-annual basis.

• Interest rate is float rate which the rate during 1st to 5th year is 5% per annum, after that the rate is sum of (a) the rate of 5 years government bond, and (b) Initial Credit Spread, and (c) the stated rate of each periods.

More Definitions of Initial Credit Spread

Initial Credit Spread means 1.61%, with respect to the Series B-1 Limited Membership Interests and the Series B-2 Limited Membership Interests, and 0.75%, with respect to the Class A Limited Membership Interests.

Initial Credit Spread means 4.098 per cent. per annum; “Insolvency Event” means:

Initial Credit Spread means 3.916 per cent.

Initial Credit Spread means 5.44% per annum.

Initial Credit Spread means 3.255 per cent. per annum.

Initial Credit Spread means 5.48 per cent. per annum, which is subject to increase in thecircumstances set out in Condition 7(a)(ii) (Automatic Conversion – Automatic Conversion Upon Capital Adequacy Trigger Event – Increase in trigger level).

Initial Credit Spread means 1.30% per annum.