NIG Prospectus - London Stock Exchange

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Level: 8 – From: 8 – Thursday, August 9, 2007 – 2:18 pm – mac5 – 3776 Section 05 : 3776 Section 05the next calendar month, in which event (i) such Periodic Distribution Date shall bebrought forward to the immediately preceding Business Day and (ii) each subsequentPeriodic Distribution Date shall be the last Business Day in the month which falls theSpecified Period after the preceding applicable Periodic Distribution Date occurred; or(B)(C)(D)the Following Business Day Convention, such Periodic Distribution Date shall bepostponed to the next day which is a Business Day; orthe Modified Following Business Day Convention, such Periodic Distribution Dateshall be postponed to the next day which is a Business Day unless it would therebyfall into the next calendar month, in which event such Periodic Distribution Date shallbe brought forward to the immediately preceding Business Day; orthe Preceding Business Day Convention, such Periodic Distribution Date shall bebrought forward to the immediately preceding Business Day.In these Conditions, Business Day means a day which is both:(a)(b)a day on which commercial banks and foreign exchange markets settle payments andare open for general business (including dealing in foreign exchange and foreigncurrency deposits) in London and any Additional Business Centre specified in theapplicable Final Terms; andeither (i) in relation to any sum payable in a Specified Currency other than euro, a dayon which commercial banks and foreign exchange markets settle payments and areopen for general business (including dealing in foreign exchange and foreign currencydeposits) in the principal financial centre of the country of the relevant SpecifiedCurrency (if other than London and any Additional Business Centre) or (ii) in relation toany sum payable in euro, a TARGET Settlement Day.8.3 Screen Rate DeterminationIf Screen Rate Determination is specified in the applicable Final Terms as the manner inwhich the Rate(s) is/are to be determined, the Rate applicable to the Trust Certificates foreach Return Accumulation Period will be determined by the Calculation Agent on thefollowing basis:(a)(b)(c)if the Reference Rate specified in the applicable Final Terms is a composite quotationor customarily supplied by one entity, the Calculation Agent will determine theReference Rate which appears on the Relevant Screen Page as of the Relevant Timeon the relevant Periodic Distribution Determination Date;in any other case, the Calculation Agent will determine the arithmetic mean of theReference Rates which appear on the Relevant Screen Page as of the Relevant Timeon the relevant Periodic Distribution Determination Date;if, in the case of (a) above, such rate does not appear on that page or, in the case of(b) above, fewer than two such rates appear on that page or if, in either case, theRelevant Screen Page is unavailable, the Calculation Agent will:(i)(ii)request each of the Reference Banks to provide a quotation of the ReferenceRate at approximately the Relevant Time on the Periodic DistributionDetermination Date to prime banks in the London or Eurozone interbankmarket, as the case may be, in an amount that is representative for a singletransaction in that market at that time; anddetermine the arithmetic mean of such quotations; and44
Level: 8 – From: 8 – Thursday, August 9, 2007 – 2:18 pm – mac5 – 3776 Section 05 : 3776 Section 05(d)if fewer than two such quotations are provided as requested, the Calculation Agentwill determine the arithmetic mean of the rates quoted by major banks in the principalfinancial centre of the Specified Currency, selected by the Calculation Agent, atapproximately 11.00 a.m. (local time in the principal financial centre of the SpecifiedCurrency) on the first day of the relevant Return Accumulation Period for loans in theSpecified Currency to leading European banks for a period equal to the relevant ReturnAccumulation Period and in an amount that is representative for a single transactionin that market at that time,and the Rate for such Return Accumulation Period shall be the sum of the Margin and therate or (as the case may be) the arithmetic mean so determined; provided, however, that ifthe Calculation Agent is unable to determine a rate or (as the case may be) an arithmeticmean in accordance with the above provisions in relation to any Return Accumulation Period,the Rate applicable to the Trust Certificates during such Return Accumulation Period will bethe sum of the Margin and the rate or (as the case may be) the arithmetic mean lastdetermined in relation to the Trust Certificates in respect of a preceding ReturnAccumulation Period.8.4 Cessation of Profit EntitlementNo further amounts will be payable on any Trust Certificate from and including the MaturityDate or, as the case may be, the Dissolution Date.8.5 Calculation of Periodic Distribution AmountThe Calculation Agent will, as soon as practicable after the time at which the Rate is to bedetermined in relation to each Return Accumulation Period, calculate the PeriodicDistribution Amount payable in respect of each Trust Certificate for such ReturnAccumulation Period. The Periodic Distribution Amount will be calculated by applying theRate applicable to the relevant Return Accumulation Period to the face amount (in the caseof a Trust Certificate in global form) or Specified Denomination (in the case of a TrustCertificate in individual registered form) of such Trust Certificate during such ReturnAccumulation Period, multiplying the product by the relevant Day Count Fraction androunding the resultant figure to the nearest sub-unit of the Specified Currency (half a subunitbeing rounded upwards).Day Count Fraction means, in respect of the calculation of a Periodic Distribution Amountin accordance with this Condition 8:(a)(b)(c)(d)(e)if “Actual/365” or “Actual/Actual” is specified in the applicable Final Terms, the actualnumber of days in the Return Accumulation Period divided by 365 (or, if any portion ofthat Return Accumulation Period falls in a leap year, the sum of (A) the actual numberof days in that portion of the Return Accumulation Period falling in a leap year dividedby 366 and (B) the actual number of days in that portion of the Return AccumulationPeriod falling in a non-leap year divided by 365);if “Actual/365 (Fixed)” is specified in the applicable Final Terms, the actual number ofdays in the Return Accumulation Period divided by 365;if “Actual/365 (Sterling)” is specified in the applicable Final Terms, the actual numberof days in the Return Accumulation Period divided by 365 or, in the case of a PeriodicDistribution Date falling in a leap year, 366;if “Actual/360” is specified in the applicable Final Terms, the actual number of days inthe Return Accumulation Period divided by 360;if “30/360” “360/360” or “Bond Basis” is specified in the applicable Final Terms, thenumber of days in the Return Accumulation Period divided by 360 (the number of days45
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NIG Prospectus - London Stock Exchange

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