2024 Rate Reset Calculations

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.

2024 Rate Reset Calculations

Date U.S. Treasury 30-YR CMT Rate (1)
3/25/2024 4.42%
3/26/2024 4.40%
3/27/2024 4.36%
3/28/2024 4.34%
3/29/2024 4.34%
Average 4.372%
+84 Basis Points (2) 0.840%
= Calculated Rate(3) 5.212%
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.

2024 Rate Reset Calculation

Date U.S. Treasury 30-YR CMT Rate (1)
04/22/2024 4.72%
04/23/2024 4.73%
04/24/2024 4.78%
04/25/2024 4.82%
04/26/2024 4.78%
Average 4.766%
+94 Basis Points (2) 0.940%
= Calculated Rate(3) 5.706%
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".

 

 

 

Investor Relations