Examples of Initial Exchange Rate in a sentence
The exchange rate between the currencies will initially be set to the rate as specified within the applicable Service Contract (the "Initial Exchange Rate") or as otherwise determined by the Service Provider.
These examples assume a principal amount of $1,000, a maturity of three years, and an Underlying Currency Basket that includes each of the following currencies and its associated hypothetical Initial Exchange Rate: · the euro (“EUR”): 1.5700 · the Japanese yen (“JPY”): 102.5000 · the Canadian dollar (“CAD”): 1.0150 The amounts in the tables and graphs below are for purposes of illustration only.
As described above, the Individual Currency Return for the Japanese yen and the Canadian dollar is equal to the Initial Exchange Rate for that currency divided by the Final Exchange Rate.
However, due to different reporting conventions, for other currencies such as the euro, the British pound, the Australian dollar, and the New Zealand dollar, the Exchange Rate represents the rate at which one unit of these currencies may be exchanged for U.S. dollars; therefore, the “Individual Currency Return” will be equal to the Final Exchange Rate divided by the Initial Exchange Rate.
Investors shall pay the subscription price of the Notes in U.S. dollars based on the Initial Exchange Rate.