Issued by a Leading European Bank in Hong Kong in the month of January 2005.
CALLABLE RATCHET RANGE ACCRUAL
Jan 18, 2005
Maturity 10 years
Payable quarterly, 30/360, Adjusted.
N = No. of Days when the reference index stays within the range;
Ntotal = Total number of days for each coupon period.
Reference Index = USD 6 months LIBOR
The issuing bank can call the notes back every three months after the expiry of one year, i.e after CPN(4) onwards.
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