1999 Series A (TVE) Calculation
The coupon rate on the 1999 Series A ("TVE") PARRS may be reset downward, under certain conditions, on May 1 of each year. The coupon rate will be reset if the sum of the average of the U.S. Treasury 30-Year CMT rate for the week ending the last Friday in March, plus 0.84% (84 basis points), is less than the current coupon rate.
2022 Reset Calculation for TVE (880591409)
| Date |
U.S. Treasury 30-YR CMT Rate (1) |
| 3/21/2022 |
2.55% |
| 3/22/2022 |
2.60% |
| 3/23/2022 |
2.52% |
| 3/24/2022 |
2.51% |
| 3/25/2022 |
2.60% |
| Average |
2.556% |
| +94 Basis Points (2) |
0.840% |
| = Calculated Rate(3) |
3.396% |
Current Rate
|
2.216%
|
| |
NO RESET |
| (1) Per 1999 Series A Offering Circular, and 1999 Series A Legal Notice |
| (2) Per 1999 Series A Offering Circular |
| (3) Coupon rate will reset if "Calculated Rate" is below the "Current Rate" |
1998 Series D (TVC) Calculation
The coupon rate on the 1998 Series D ("TVC") PARRS may be reset downward, under certain conditions, on June 1 of each year. The coupon rate will be reset if the sum of the average of the U.S. Treasury 30-Year CMT rate for the week ending the last Friday in April, plus 0.94% (94 basis points), is less than the current coupon rate.
2022 Reset Calculation for TVC
| Date |
30-YR CMT Rate (1) |
| 4/25/2022 |
2.88% |
| 4/26/2022 |
2.86% |
| 4/27/2022 |
2.91% |
| 4/28/2022 |
2.92% |
| 4/29/2022 |
2.96% |
| Average |
2.906% |
| +94 Basis Points (2) |
0.940% |
| = Calculated Rate(3) |
3.846% |
Current Rate
|
2.134%
|
| |
NO RESET |
| (1) Per 1998 Series D Offering Circular, and 1998 Series D Legal Notice |
| (2) Per 1998 Series D Offering Circular |
| (3) Coupon rate will reset if "Calculated Rate" is below the "Current Rate". |