Ma dove lo leggi?,io ho citato il prospetto su luxemburg e dice una cosa diversa
ANNEX 1
1) FLOATING INTEREST RATE
The Interest Rate in respect of the Notes for each Interest Period in the Floating Rate Interest Period
shall be determined by the Calculation Agent in accordance with the following formula:
(USD10yrSwap + FX Return)
subject to being rounded to the nearest 0.0001 per cent with 0.00005 being rounded upwards and to
a Minimum and Maximum Interest Rate (as defined in item 20).
2) DEFINITIONS:
“CMS Determination Date” means the fifth (5) Business Day prior to the start of the relevant
Interest Period.
“FX Determination Date” means the fifth (5) Business Day prior to the relevant Interest Payment
Date.
“USD10yrSwap” means the rate for USD swaps with a maturity of 10 years, as quoted on a semiannual
30/360 day basis versus 3 month USD LIBOR, expressed as a percentage, which appears on
the Reuters Screen ISDAFIX1 Page (or such other page or services determined by the Calculation
Agent as may replace such Reuters page for the purpose of displaying such rate) as of 11.00 a.m.,
New York City time, on the CMS Determination Date (as defined above)
Should Reuters Screen ISDAFIX1 Page (or other such page or service as shall replace Reuters
Screen ISDAFIX1 Page) not be available, or the USD10yrSwap not be shown on such page or
service at approximately 11.00 a.m. New York City time on the relevant CMS Determination Date, the
rate for the relevant Interest Period will be a percentage determined on the basis of the mid-market
semi-annual swap rate quotations provided by the Reference Banks at approximately 11:00 a.m.,
New York City time, on the day that is five Business Days preceding the first day of the relevant
Interest Period, and, for this purpose, the semi-annual swap rate means the mean of the bid and
offered rates for the semi-annual fixed leg, calculated on a 30/360 day count basis, of a fixed-forfloating
U.S. Dollar interest rate swap transaction with a term equal to 10 years, as relevant,
commencing on the first day of the Interest Period and in an amount equal to the Aggregate Nominal
Amount with an acknowledged dealer of good credit in the swap market, where the floating leg,
calculated on an Act/360 day count basis, is equivalent to USD-Libor-BBA with a designated maturity
of three months. The Calculation Agent will request the principal New York office of each Reference
Banks to provide a quotation of its rate. If at least three quotations are provided, the applicable rate
for that Interest Period will be the arithmetic mean of the quotations eliminating the highest quotation
(or, in the event of equality, one of the highest) and the lowest quotation (or, in the event of equality,
one of the lowest).
If no such quotations are provided as requested, and the Calculation Agent determines in its sole
discretion that no suitable replacement Reference Banks who are prepared to provide such
quotations are available, the Calculation Agent in its sole and absolute discretion shall calculate the
applicable rate (or a method for determining such rate) taking into consideration all available
information that in good faith it deems relevant.
10
“FXn” means the USD/Swiss Franc (“CHF”) spot foreign exchange rate expressed as the number of
CHF (or part thereof) for which one USD could be purchased in the Interbank Market as quoted on
Reuters Screen 1 FED Page (or such other page or services determined by the Calculation Agent as
may replace such Reuters page for the purpose of displaying such rate) as fixed by the Federal
Reserve Bank of New York, as at 10.00 a.m., New York City time on the FX Determination Date (as
defined above).
In the event that Reuters Screen 1 FED Page (or such successor page) should not be available at
such time or no such rate appears at such time on any of such pages or Reuters Screen 1 FED Page
is no longer used as the Federal Reserve Bank of New York’s official fixing page , on the relevant FX
Determination Date, the website of the Federal Reserve Bank of New York, or any other official page
designed by the Federal Reserve Bank of New York, will be used by the Calculation Agent. If no
such official page exists, then the Calculation Agent shall determine the rate of FXn (or a method for
determining FXn) in its sole and absolute discretion taking into consideration all available information
that in good faith it deems relevant.
“FXo” means 1.0825
“FX Return” shall mean:
(FXn – FXo) / FXn
