Each pricing supplement will
specify the terms of the floating rate note being offered,
including:
•
whether the floating rate note
is:
(1)
a Regular Floating Rate
Note,
(2)
a Floating Rate/Fixed Rate
Note, or
(3)
an Inverse Floating Rate
Note,
•
the fixed rate commencement
date, if applicable,
•
the fixed interest rate, if
applicable,
•
the interest rate basis or
bases,
•
the interest rate in effect
from the date of issue until the date on which this interest rate
on the related floating rate note will be reset,
•
the date on which the interest
rate on the related floating rate note will be reset,
•
the interest payment period and
dates,
•
the period to maturity of the
instrument or obligation with respect to which the interest rate
basis or bases will be calculated, referred to as the Index
Maturity,
•
a maximum numerical limitation,
or ceiling, on the rate at which interest may accrue during any
interest period, if any,
•
a minimum numerical limitation,
or floor, on the rate at which interest may accrue during any
interest period, if any,
•
the number of basis points to
be added to or subtracted from the related interest rate basis or
bases, referred to as the Spread,
•
the percentage of the
related interest rate basis or bases by which the interest rate
basis or bases will be multiplied to determine the applicable
interest rate, referred to as the Spread Multiplier,
and
•
if one or more of the specified
interest rate bases is the CMT Rate, the Designated CMT Moneyline
Telerate Page and Designated CMT Maturity Index.
The interest rate borne by the
floating rate notes will be determined as follows:
Regular
Floating Rate Notes. Unless a floating rate
note is designated as a Floating Rate/Fixed Rate Note, an Inverse
Floating Rate Note or as having an addendum attached or as having
“Other/Additional Provisions” apply relating to a different
interest rate formula, it will be a Regular Floating Rate Note and,
except as described below or in a pricing supplement, will bear
interest at the rate determined by reference to the applicable
interest rate basis or bases:
•
plus or minus the applicable
Spread, if any, and/or
•
multiplied by the applicable
Spread Multiplier, if any.
Commencing on the first
interest reset date, the rate at which interest on the Regular
Floating Rate Note will be payable will be reset as of each
interest reset date. However, the interest rate in effect for the
period from the date of issue to the first interest reset date will
be the initial interest rate.
Floating
Rate/Fixed Rate Notes. If a floating rate note
is designated as a Floating Rate/Fixed Rate Note, then, except as
described below or in a pricing supplement, it will bear interest
at the rate determined by reference to the applicable interest rate
basis or bases:
•
plus or minus the applicable
Spread, if any, and/or
•
multiplied by the applicable
Spread Multiplier, if any.