Product Description
The Notes offer pre-determined quarterly Fixed Coupons (as defined below) of 2.80% annually for the first year and quarterly Floating Coupons (as defined below) for the next 2 years equal to the 3-Month USD LIBOR (fixed quarterly) plus a spread of 0.45% (the “Spread”), subject to a maximum of 4.25% annually. All payments under the Notes will be in American dollars. The Notes are principal-protected at maturity.