Underlying Benchmark Rate Level means the rate determined in accordance with Condition 6(l) (Benchmark Rate) with variables set out in the Final Terms;
Benchmark Rate means, with respect to any Redemption Date, the rate per annum equal to the annual equivalent yield to maturity or interpolated maturity of the Comparable Benchmark Issue (as defined below), assuming a price for the Comparable Benchmark Issue (expressed as a percentage of its principal amount) equal to the Comparable Benchmark Price for such Redemption Date.