Zero Coupon Yield definition

Zero Coupon Yield means such rate as would produce an amortised face amount equal to the issue price of the Notes if they were discounted back to their issue price on the Issue Date at such rate, or as otherwise specified in the Additional Conditions.
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Zero Coupon Yield means, in respect of any Class of Notes on any day, the yield of a zero- coupon bond denominated in the currency of such Class, with a start date on such day, a maturity date on the Redemption Date of such Class of Notes or date on which the applicable payment would have been payable (as applicable) and determined on the basis of the swap rate curves for such currency published on specified internal Reuters pages of the Swap Counterparty, provided that if such rates are not published on such pages the Swap Counterparty will determine such rates from such other sources as it, in its absolute discretion, may deem appropriate. For the avoidance of doubt, the swap rate curves used for the purpose of calculating such Zero-Coupon Yield shall be adjusted by a spread corresponding to the "Spread 2" in respect of such Class of Notes set out in the applicable Currency Swap Confirmation.
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Examples of Zero Coupon Yield in a sentence

  • Subject to the provisions of (iii) below and as provided in the Applicable Transaction Terms, the Amortised Face Amount of any Zero Coupon Note shall be the scheduled Redemption Amount of such Note on the Maturity Date discounted at a rate per annum (expressed as a percentage) equal to the Zero Coupon Yield shown in the Applicable Transaction Terms compounded annually.

  • Zero Coupon Yield curves will use prices and rates taken at: All times quoted, are London time.AUD BBSW & OIS MXN Zero coupon yield curves used for daily marking to market will be published on the Clearing House's Member Reporting website after the end of each Business Day.

  • Paragraph (b) above shall apply to Zero Coupon Notes, provided that the Interest Rate for such purpose shall be the related Zero Coupon Yield (and any such Note shall otherwise be treated as a Fixed Rate Obligation for such purpose, having 30/360 as the applicable Day Count Fraction).3.4 Interest Payment Dates Interest will be payable on each Note in arrear on each Interest Payment Date.

  • Zero Coupon Yield curves will use prices and rates taken at: All times quoted, are London time.AUD BBSW & OIS EURO Zero coupon yield curves used for daily marking to market will be published on the Clearing House's Member Reporting website after the end of each Business Day.

  • Zero Coupon Yield curves will use prices and rates taken at: All times quoted, are London time.AUD BBSW & OIS LIBOR Zero coupon yield curves used for daily marking to market will be published on the Clearing House's Member Reporting website after the end of each Business Day.

  • Subject to the provisions of (iii) below and as provided in the Applicable Supplement, the Amortised Face Amount of any Zero Coupon Note shall be the scheduled Redemption Amount of such Note on the Maturity Date discounted at a rate per annum (expressed as a percentage) equal to the Zero Coupon Yield shown in the Applicable Supplement compounded annually.

  • Regarding recent consultations, the LMA is looking to respond to the HM Treasury consultation on supplementary legal safe harbours.

  • Estimating a risk free Term Structure of Interest Rates or Zero Coupon Yield Curve from the observed bond prices would involve controlling for the effects of security specific non-interest rate factors that affect bond prices.

  • Zero Coupon Yield curves will use prices and rates taken at: All times quoted are London timeAUD12:00CAD20:00CHF LIBOR &OIS16:30 CZK16:30DKK16:30EURO LIBOR 16:30GBP LIBOR 16:30HKD12:00HUF16:30JPY LIBOR & OIS 12:00NOK16:30NZD12:00PLN16:30SEK16:30SGD12:00USD LIBOR & OIS 20:00ZAR16:30EURO OIS 18:00GBP OIS 18:00 Zero coupon yield curves used for daily marking to market will be published on the Clearing House's member reporting website at intervals during the day as the prices and rates are captured.

  • Zero Coupon Yield curves will use prices and rates taken at: All times quoted, are London time.AUD12:00CAD20:00CHF LIBOR & OIS16:15CZK16:15DKK16:15EURO LIBOR 16:15GBP LIBOR 16:15HKD12:00HUF16:15JPY LIBOR & OIS 12:00NOK16:15NKD12:00PLN16:15SEK16:15SGD12:00USD LIBOR & OIS20:00ZAR16:15EURO OIS 18:15 GBP OIS Zero coupon yield curves used for daily marking to market will be published on the Clearing House's Member Reporting website after the end of each Business Day.

Related to Zero Coupon Yield

  • Zero Coupon Note means a Note specified as such in the relevant Final Terms.

  • Zero Coupon Bond Any debt security that by its terms (a) does not bear interest for all or part of the remaining period that it is outstanding, (b) provides for periodic payments of interest in Cash less frequently than semi-annually or (c) pays interest only at its stated maturity.

  • zero-coupon obligation means a debt security that does not expressly provide for the accrual of interest, and includes the former component parts of a debt security that did expressly provide for the accrual of interest if that component part does not itself expressly provide for the accrual of interest.

  • Fixed Coupon Amount means the amount specified as such in the relevant Final Terms.

  • Reinvestment Yield means, with respect to the Called Principal of any First Mortgage Bond, .50% (50 basis points) over the yield to maturity implied by (i) the yields reported as of 10:00 a.m. (New York City time) on the second Business Day preceding the Settlement Date with respect to such Called Principal, on the display designated as “Page PX1” (or such other display as may replace Page PX1) on Bloomberg Financial Markets for the most recently issued actively traded on the run U.S. Treasury securities having a maturity equal to the Remaining Average Life of such Called Principal as of such Settlement Date, or (ii) if such yields are not reported as of such time or the yields reported as of such time are not ascertainable (including by way of interpolation), the Treasury Constant Maturity Series Yields reported, for the latest day for which such yields have been so reported as of the second Business Day preceding the Settlement Date with respect to such Called Principal, in Federal Reserve Statistical Release H.15 (or any comparable successor publication) for U.S. Treasury securities having a constant maturity equal to the Remaining Average Life of such Called Principal as of such Settlement Date. In the case of each determination under clause (i) or clause (ii), as the case may be, of the preceding paragraph, such implied yield will be determined, if necessary, by (a) converting U.S. Treasury xxxx quotations to bond equivalent yields in accordance with accepted financial practice and (b) interpolating linearly between (1) the applicable U.S. Treasury security with the maturity closest to and greater than such Remaining Average Life and (2) the applicable U.S. Treasury security with the maturity closest to and less than such Remaining Average Life. The Reinvestment Yield shall be rounded to the number of decimal places as appears in the interest rate of the applicable First Mortgage Bond.

  • Canada Yield Price means a price equal to the price of the Notes (or the portion thereof to be redeemed) calculated to provide a yield to maturity equal to the sum of the Government of Canada Yield calculated at 10:00 a.m. (Toronto time) on the third Business Day preceding the redemption date plus the Applicable Spread;

  • Coupon Amount means (i) in respect of a Coupon Payment, the amount of interest payable on a Security for the relevant Coupon Period in accordance with Condition 5 and (ii) for the purposes of Conditions 8(c) and 8(d), any interest accrued from (and including) the preceding Coupon Payment Date (or, if none, the Issue Date) to (but excluding) the due date for redemption if not a Coupon Payment Date as provided for in Condition 5(b);

  • Coupon Rate has the meaning set forth in Section 2.8.

  • Note Monthly Interest means, for a Class and a Payment Date, the aggregate amount of interest accrued on the Note Balance of the Class at the Note Interest Rate for the Class for the related Interest Period.

  • Accrual Yield means the rate specified as such in the applicable Final Terms; and

  • Weighted Average Coupon means, with respect to Fixed Rate Obligations (excluding Defaulted Loans), as of any date, the number obtained by:

  • Gross Redemption Yield means, with respect to a security, the gross redemption yield on such security, expressed as a percentage and calculated by the Financial Adviser on the basis set out by the UK Debt Management Office in the paper “Formulae for Calculating Gilt Prices from Yields”, page 4, Section One: Price/Yield Formulae “Conventional Gilts/Double dated and Updated Gilts with Assumed (or Actual) Redemption on a Quasi-Coupon Date” (published 8 June 1998, as amended or updated from time to time) on a semi-annual compounding basis (converted to an annualised yield and rounded up (if necessary) to four decimal places) or on such other basis as the Trustee may approve;

  • Make-Whole Redemption Margin means the margin specified as such in the relevant Final Terms.

  • Amortisation Yield means the rate per annum (expressed as a percentage) used to calculate the Amortised Nominal Amount of a Zero Coupon Note, in accordance with the provisions of Condition 7.5.1.

  • Pricing Level I shall exist on an Adjustment Date if the Consolidated Leverage Ratio for the relevant period is greater than or equal to 3.50 to 1.00.

  • Net Yield means, with respect to any Monthly Period, Portfolio Yield with respect to such Monthly Period minus the Base Rate with respect to such Monthly Period.

  • Pricing Level II shall exist on an Adjustment Date if the Consolidated Leverage Ratio for the relevant period is less than 3.50 to 1.00 but greater than or equal to 3.00 to 1.00.

  • Pricing Level IV means any time when (i) no Event of Default has occurred and is continuing, (ii) the Senior Debt Rating is BBB- or higher by S&P or Baa3 or higher by Moody’s and (iii) Pricing Levels I, II and III do not apply.

  • Minimum Weighted Average Coupon Test means a test that will be satisfied on any Measurement Date if the Weighted Average Coupon equals or exceeds 5.0%.

  • Weekly Rate means the interest rate on the Bonds established in accordance with Section 2.03(b) hereof.

  • Moody’s Discount Factor means, for purposes of determining the Discounted Value of any Moody’s Eligible Asset, the percentage determined by reference to the rating on such asset and the shortest Exposure Period set forth opposite such rating that is the same length as or is longer than the Moody’s Exposure Period, in accordance with the table set forth below: Exposure Period Aaa* Aa* A* Baa* Other** (V)MIG-1*** SP-1+**** Unrated***** 7 weeks 151% 159% 166% 173% 187% 136% 148% 225% 8 weeks or less but greater than seven weeks. 154 161 168 176 190 137 149 231 9 weeks or less but greater than eight weeks 158 163 170 177 192 138 150 240 * Mxxxx’x rating. ** Municipal Obligations not rated by Moody’s but rated BBB by S&P. *** Municipal Obligations rated MIG-1 or VMIG-1, which do not mature or have a demand feature at par exercisable in 30 days and which do not have a long-term rating. **** Municipal Obligations not rated by Moody’s but rated SP-1+ by S&P, which do not mature or have a demand feature at par exercisable in 30 days and which do not have a long-term rating. ***** Municipal Obligations rated less than Baa3 or not rated by Moody’s and less than BBB or not rated by S&P, not to exceed 10% of Moody’s Eligible Assets. Notwithstanding the foregoing, (i) except as provided in clause (ii) below, the Moody’s Discount Factor for short-term Municipal Obligations will be 115%, so long as such Municipal Obligations are rated at least MIG-1, VMIG-l or P-1 by Moody’s and mature or have a demand feature at par exercisable in 30 days or less, or 125%, as long as such Municipal Obligations are rated at least A-1+/AA or SP-1+/AA by S&P and mature or have a demand feature at par exercisable in 30 days or less, (ii) the Moody’s Discount Factor for residual interest municipal bonds and structured notes shall be the product of (x) the percentage determined by reference to the rating on the security underlying such residual interest municipal bond multiplied by (y) 1.25 (provided that the trust in which such residual interest municipal bond is held may be terminated within five business days), and (iii) except as provided in clause (ii) above, no Moody’s Discount Factor will be applied to cash, Receivables for Municipal Obligations Sold, or futures, options and similar instruments (to the extent such securities are Moody’s Eligible Assets); provided, however, that for purposes of determining the Moody’s Discount Factor applicable to a Municipal Obligation, any Municipal Obligation (excluding any short-term Municipal Obligation) not rated by Moody’s but rated by S&P shall be deemed to have a Mxxxx’x rating which is one full rating category lower than its S&P rating.

  • Pricing Level refers to the determination of which of Level I, Level II, Level III, Level IV, Level V or Level VI applies at any date.

  • Incremental Term Maturity Date means, with respect to Incremental Term Loans of any Series, the scheduled date on which such Incremental Term Loans shall become due and payable in full hereunder, as specified in the applicable Incremental Facility Agreement.