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.
2023 Rate Reset Calculation
|
Date
|
U.S. Treasury 30-YR CMT Rate (1)
|
| 04/24/2023 |
3.73% |
| 04/25/2023 |
3.65% |
| 04/26/2023 |
3.70% |
| 04/27/2023 |
3.76% |
| 04/28/2023 |
3.67% |
| Average |
3.702% |
| +94 Basis Points (2) |
0.940% |
| = Calculated Rate(3) |
4.642% |
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". |