Interpolated Swap Rate definition
Interpolated Swap Rate. ’ means a rate determined by the Calculation Agent through the use of straight-line interpolation by reference to two Swap Rates, one of which shall be determined as if the Designated Maturity were the whole number of unexpired Preferred Dividend Periods to the First Call Date (but excluding the Preferred Dividend Period in which the calculation is to be made) and the other of which shall be determined as if the Designated Maturity were the whole number of unexpired Preferred Dividend Periods to the First Call Date (including the Preferred Dividend Period in which the calculation is made); and
Interpolated Swap Rate means in the case of the 4.75% Global Notes due January 2025 the rate, expressed as a percentage and rounded to the nearest 0.001% (with 0.0005 being rounded upwards) as determined by the Dealer Managers at the Price Determination Date, calculated by means of linear interpolation of the 2 Year Mid-Swap Rate and the 3 Year Mid-Swap Rate as follows: (a) by subtracting the 2 Year Mid-Swap Rate from the 3 Year Mid-Swap Rate and multiplying the result of such subtraction by the fraction, calculated by dividing the actual number of days from (and including) the date falling exactly 2 years after the Settlement Date to (but excluding) January 14, 2025 by 365 and (b) adding the 2 Year Mid-Swap Rate.