Published September 30, 2021, Effective September 30, 2021 Version 2

This document has been created under license from ISDA and should not be used, copied or disseminated other than in accordance with the terms of that license.

2021 ISDA Interest Rate Derivatives Definitions Settlement Matrix for Settlement, Early Termination and Swaptions

Published September 30, 2021, Effective September 30, 2021

Version 2.0

This Settlement Matrix applies in respect of a Transaction (a) to which either "Optional Early Termination" or "Mandatory Early Termination" is applicable or (b) that is a Swaption, if, in either case, the Transaction or Underlying Transaction (as applicable) involves either (a) one currency and that currency is, as the Trade Date of the Transaction, included in this Settlement Matrix, or (b) two currencies that are, as at the Trade Date of the Transaction, included in this Settlement Matrix as a "Currency Pair".

Currency

Relevant

Transaction Type4

Settlement method

AMERICAS

CAD

CDOR Transactions6

CORRA

Transactions

8

Cleared Physical Settlement

Physical Settlement

MXN

Physical Settlement

USD

USD-LIBOR Transactions

9

SOFR Transactions

10

Cleared Physical Settlement

EUROPE, MIDDLE EAST AND AFRICA

Cash Settlement

Method

Collateralized Cash Price Collateralized Cash Price

Collateralized Cash Price

Collateralized Cash Price

SWAPTIONS1

Exercise Business

Days

(Cash Settlement and Physical Settlement)

Cash Settlement Valuation

Date

(Cash Settlement

and Physical Settlement)

Cash Settlement Payment

Date Business

Days

Cash Settlement Payment

Date ("CSPD")

Automatic Exercise / Fallback Exercise

SINGLE CURRENCY TRANSACTIONS2 - OPTIONAL EARLY TERMINATION AND MANDATORY EARLY TERMINATION

Cash Settlement Method -

OET

Cash Settlement Method -

MET

Exercise Business

Days / Valuation Business

Days

Expiration Date /

Exercise Date5

Cash Settlement Valuation

Date

SINGLE CURRENCY ? SWAPTIONS AND OET/MET

Earliest Exercise

Time

Latest Exercise Time / Cash Settlement Valuation

Time / Expiration

Time

GENERAL

Discount Rate

Settlement Rate

Toronto

Exercise Date

Toronto

One Business Day following Exercise Date

Fallback Exercise

Mexico City

Exercise Date

Mexico City

One Business Day following Exercise Date

Fallback Exercise

> LIBOR Floating Rate Options: New York and London

Exercise Date

> All other Floating Rate Options: New York

> LIBOR Floating Rate Options: New York and London

> All other Floating Rate Options: New York

Two Business Days following Exercise Date

Fallback Exercise

Mid-market Valuation (Indicative Quotations) with "Existing CSA" applicable

Mid-market Valuation (Indicative Quotations)

Toronto

Mid-market Valuation (Indicative Quotations) with "Existing CSA" applicable

Mid-market Valuation (Indicative Quotations)

Mexico City

Mid-market Valuation (Indicative Quotations) with "Existing CSA" applicable

Mid-market Valuation (Indicative Quotations)

> LIBOR Floating Rate Options: New York and London

> All other Floating Rate Options: New York

Five Exercise Business Days prior to relevant CSPD

CSPD7

Five Exercise Business Days prior to relevant CSPD

One Valuation Business Day prior to CSPD

Five Exercise Business Days prior to relevant CSPD

Two Valuation Business Days prior to CSPD

9:00 a.m. Toronto time

9:00 a.m. New York time

9:00 a.m. New York time

> Swaptions: 11:00 a.m. Toronto time

CORRA

> OET/MET: 4:00 p.m. Toronto time

12:30 p.m. New York time

SOFR

11:00 a.m. New York time

SOFR

Reference Banks Reference Banks

Reference Banks

ICE Swap Rate Reference Banks

Currency Pair

CROSS CURRENCY TRANSACTIONS3

Exercise Business

Days / Valuation Business

Days

Expiration Date /

Exercise Date

Cash Settlement Valuation

Date

Earliest Exercise Time ("EET") & Latest Exercise Time ("LET")

Cash Settlement Valuation

Time / Expiration

Time

Cash Settlement Currency

CAD / USD

Toronto, London, and New York

Five Exercise Business Days prior to CSPD

CSPD

EET: 9.00 a.m. Toronto time

4.00 p.m. Toronto time

USD

LET: 4.00 p.m. Toronto time

MXN / USD

Mexico City, London and New York

Five Exercise Business Days prior to CSPD

One Valuation Business Day prior to CSPD

EET: 9.00 a.m. New York time

LET: 12:30 p.m. New York time

12.30pm New York time

USD

Please refer to the USD row in respect of the currency in the currency pair other than USD.

1 References to Physical Settlement should be read as including Cleared Physical Settlement. 2 This includes a Transaction entered into as a result of the exercise of a Swaption. 3 For the Cash Settlement Method for "Optional Early Termination" ("OET") or "Mandatory Early Termination" ("MET") for a Cross Currency Transaction, refer to the columns "Cash Settlement Method ? OET" and "Cash Settlement Method ? MET" under the heading "Single Currency Transactions ? Optional and Mandatory Early Terminations" for the relevant row in which the currency pair

is included. 4 If applicable. If none specified, elections apply to all Transactions denominated in the relevant currency. 5 For European style options, the Expiration Date will be the Exercise Date. For Bermuda style options, the Expiration Date will be the day falling Five Exercise Business Days prior to the last CSPD. 6 "CDOR Transactions" means any Transaction where the Floating Rate Option for the Relevant Transaction is a Floating Rate Option based on CDOR. 7 CAD Cash Settlement Valuation Date for Early Termination: Actual payment resulting from the calculation based on CDOR or CORRA will be delayed by one Business Day (this does not affect the Cash Settlement Valuation Date). 8 "CORRA Transactions" means any Transaction where the Floating Rate Option for the Relevant Transaction is a Floating Rate Option based on CORRA. 9 "USD-LIBOR Transactions" means any Transaction where the Floating Rate Option for the Relevant Transaction is a Floating Rate Option based on U.S. Dollar LIBOR. 10 "SOFR Transactions" means any Transaction where the Floating Rate Option for the Relevant Transaction is a Floating Rate Option based on SOFR.

1 Copyright ? 2021 by International Swaps and Derivatives Association, Inc.

This document has been created under license from ISDA and should not be used, copied or disseminated other than in accordance with the terms of that license.

Currency

Relevant

Transaction Type4

Settlement method

CHF

CHF-LIBOR Transactions

11

SARON Transactions

12

Cleared Physical Settlement

Physical Settlement

CZK DKK

Physical Settlement

Cleared Physical Settlement

EUR

EURIBOR Transactions

13

EuroSTR Transactions

14

Cash Settlement

Cleared Physical Settlement

Cash Settlement

Method

Collateralized Cash Price Collateralized Cash Price

Collateralized Cash Price

Collateralized Cash Price

Collateralized Cash Price

SWAPTIONS1

Exercise Business

Days (Cash Settlement and Physical Settlement)

> LIBOR Floating Rate Options: Zurich and London

Cash Settlement Valuation

Date

(Cash Settlement

and Physical Settlement)

Exercise Date

Cash Settlement Payment

Date Business

Days

Zurich

> All other Floating Rate Options: Zurich

Cash Settlement Payment

Date ("CSPD")

Automatic Exercise / Fallback Exercise

SINGLE CURRENCY TRANSACTIONS2 - OPTIONAL EARLY TERMINATION AND MANDATORY EARLY TERMINATION

Cash Settlement Method -

OET

Cash Settlement Method -

MET

Exercise Business

Days / Valuation Business

Days

Expiration Date /

Exercise Date5

Cash Settlement Valuation

Date

SINGLE CURRENCY ? SWAPTIONS AND OET/MET

Earliest Exercise

Time

Latest Exercise Time / Cash Settlement Valuation

Time / Expiration

Time

GENERAL

Discount Rate

Settlement Rate

Two Business Days following Exercise Date

(Physical Settlement) Fallback Exercise

(Cash Settlement) Automatic Exercise (with an Exercise Threshold of zero percent)

Mid-market Valuation (Indicative Quotations) with "Existing CSA" applicable

Mid-market Valuation (Indicative Quotations)

> LIBOR Floating Rate Options: Zurich and London

> All other Floating Rate Options: Zurich

Five Exercise Business Days prior to relevant CSPD

Two Valuation Business Days prior to CSPD

9:00 a.m. Zurich time (LIBOR Floating Rate Options: 9:00 a.m. London time)

11:00 a.m. Zurich time (LIBOR Floating Rate Options: 11:00 a.m. London time)

SARON

Reference Banks

Reference Banks

Prague and London

Exercise Date

Copenhagen

Exercise Date

> LIBOR Floating Rate Options: TARGET and London

Exercise Date

> All other Floating Rate Options: TARGET

Prague and London

Two Business Days following Exercise Date

Copenhagen

Two Business Days following Exercise Date

TARGET

Two Business Days following Exercise Date

Fallback Exercise

(Physical Settlement) Fallback Exercise (Cash Settlement) Automatic Exercise (with an Exercise Threshold of zero percent)

(Physical Settlement) Fallback Exercise (Cash Settlement) Automatic Exercise (with an Exercise Threshold of zero percent)

Mid-market Valuation (Indicative Quotations) with "Existing CSA" applicable

Mid-market Valuation (Indicative Quotations)

Prague and London

Mid-market Valuation (Indicative Quotations) with "Existing CSA" applicable

Mid-market Valuation (Indicative Quotations)

Copenhagen

Mid-market Valuation (Indicative Quotations) with "Existing CSA" applicable

Mid-market Valuation (Indicative Quotations)

> LIBOR Floating Rate Options: TARGET and London

> All other Floating Rate Options: TARGET

Five Exercise Business Days prior to relevant CSPD

Five Exercise Business Days prior to relevant CSPD

Five Exercise Business Days prior to relevant CSPD

Two Valuation Business Days prior to CSPD

> CIBOR Floating Rate Options: CSPD

> CIBOR2 Floating Rate Options: Two Valuation Business Days prior to CSPD

Two Valuation Business Days prior to CSPD

9:00 a.m. Prague time

11:00 a.m. Prague time

CZEONIA Reference Banks

9:00 a.m. Copenhagen time

11:00 a.m. Copenhagen time

DKK OIS

Reference Banks

9:00 a.m. Brussels time

11:00 a.m. Brussels time

EuroSTR

ICE Swap Rate

(LIBOR Floating Rate Options: 9:00 a.m. London time)

(LIBOR Floating Rate Options: 11:00 a.m. London time)

Reference Banks

Currency Pair

CHF / EUR CHF / USD CHF / PLN

CZK / EUR CZK / USD DKK / EUR DKK / USD

EUR / USD

Exercise Business

Days / Valuation Business

Days

CROSS CURRENCY TRANSACTIONS3

Expiration Date /

Exercise Date

Cash Settlement Valuation

Date

Earliest Exercise Time ("EET") & Latest Exercise Time ("LET")

Cash Settlement Valuation

Time / Expiration

Time

Cash Settlement Currency

Zurich, London and TARGET

Zurich, London and New York

Five Exercise Business Days prior to CSPD

Two Valuation Business Days prior to CSPD

Warsaw, London and Zurich

EET: 9:00 a.m. London time

LET: 11:00 a.m. London time

EET: 9:00 a.m. Warsaw time

11:00 a.m. London time

11:00 a.m. Warsaw time

EUR USD CHF

Prague, London and TARGET

Prague, London and New York

Copenhagen, London and TARGET

Copenhagen, London and New York

Five Exercise Business Days prior to CSPD

Two Valuation Business Days prior to CSPD

Five Exercise Business Days prior to CSPD

Two Valuation Business Days prior to CSPD

LET: 11:00 a.m. Warsaw time

EET: 9:00 a.m. Prague time

LET: 11:00 a.m. Prague time

EET: 9:00 a.m. Copenhagen time

LET: 11:00 a.m. Copenhagen time

11:00 a.m. Prague time

11:00 a.m. Copenhagen time

EUR USD EUR USD

London. TARGET and New York

Five Exercise Business Days prior to CSPD

Two Valuation Business Days prior to CSPD

(EUR-LIBOR) EET: 9:00 a.m. London time

LET: 11:00 a.m. London time

(EUR-LIBOR) 11:00 a.m. London time

(Non EURLIBOR) 11:00am Brussels time

USD

(Non EURLIBOR)

11 "CHF-LIBOR Transactions" means any Transaction where the Floating Rate Option for the Relevant Transaction is a Floating Rate Option based on Swiss Franc LIBOR. 12 "SARON Transactions" means any Transaction where the Floating Rate Option for the Relevant Transaction is a Floating Rate Option based on SARON. 13 "EURIBOR Transactions" means any Transaction where the Floating Rate Option for the Relevant Transaction is a Floating Rate Option based on EURIBOR. 14 "EuroSTR Transactions" means any Transaction where the Floating Rate Option for the Relevant Transaction is a Floating Rate Option based on EuroSTR.

2 Copyright ? 2021 by International Swaps and Derivatives Association, Inc.

This document has been created under license from ISDA and should not be used, copied or disseminated other than in accordance with the terms of that license.

Currency

Relevant

Transaction Type4

Settlement method

Cash Settlement

Method

SWAPTIONS1

Exercise Business

Days

(Cash Settlement and Physical Settlement)

Cash Settlement Valuation

Date

(Cash Settlement

and Physical Settlement)

Cash Settlement Payment

Date Business

Days

Cash Settlement Payment

Date ("CSPD")

Automatic Exercise / Fallback Exercise

SINGLE CURRENCY TRANSACTIONS2 - OPTIONAL EARLY TERMINATION AND MANDATORY EARLY TERMINATION

Cash Settlement Method -

OET

Cash Settlement Method -

MET

Exercise Business

Days / Valuation Business

Days

Expiration Date /

Exercise Date5

Cash Settlement Valuation

Date

SINGLE CURRENCY ? SWAPTIONS AND OET/MET

Earliest Exercise

Time

Latest Exercise Time / Cash Settlement Valuation

Time / Expiration

Time

GENERAL

Discount Rate

Settlement Rate

Currency Pair

Exercise Business

Days / Valuation Business

Days

CROSS CURRENCY TRANSACTIONS3

Expiration Date /

Exercise Date

Cash Settlement Valuation

Date

Earliest Exercise Time ("EET") & Latest Exercise Time ("LET")

Cash Settlement Valuation

Time / Expiration

Time

Cash Settlement Currency

EET: 9:00 a.m. Brussels time

GBP HUF ILS NOK PLN

LIBOR Transactions

15

SONIA Transactions

16

Cash Settlement

Cash Settlement

Physical Settlement

Par Yield Curve ? Unadjusted

Collateralized Cash Price

LIBOR and SONIA Floating Rate Options: London

Exercise Date

Collateralized Cash Price

Budapest and London

Exercise Date

LIBOR and SONIA Floating Rate Options: London

Exercise Date

Budapest and London

Two Business Days following Exercise Date

(Physical Settlement) Fallback Exercise

(Cash Settlement) Automatic Exercise (with an Exercise Threshold of zero percent)

Fallback Exercise

Mid-market Valuation (Indicative Quotations) with "Existing CSA" applicable

Mid-market Valuation (Indicative Quotations)

LIBOR and SONIA Floating Rate Options: London

Mid-market Valuation (Indicative Quotations) with "Existing CSA" applicable

Mid-market Valuation (Indicative Quotations)

Budapest and London

Five Exercise Business Days prior to relevant CSPD

Five Exercise Business Days prior to relevant CSPD

CSPD

Two Valuation Business Days prior to CSPD

9:00 a.m. London time

9:00 a.m. Budapest time

11:00 a.m. London time

11:00 a.m. Budapest time

SONIA

ICE Swap Rate

ICE Swap Rate

HUFONIA Reference Banks

Physical Settlement

Cleared Physical Settlement

Physical Settlement

Collateralized Cash Price

Tel Aviv and London

Exercise Date

Collateralized Cash Price

Oslo

Exercise Date

Collateralized Cash Price

Warsaw and London

Exercise Date

Tel Aviv and London

Two Business Days following Exercise Date

Oslo

Two Business Days following Exercise Date

Warsaw and London

Two Business Days

Fallback Exercise

(Physical Settlement) Fallback Exercise (Cash Settlement) Automatic Exercise (with an Exercise Threshold of zero percent)

Fallback Exercise

Mid-market Valuation (Indicative Quotations) with "Existing CSA" applicable

Mid-market Valuation (Indicative Quotations)

Tel Aviv and London

Mid-market Valuation (Indicative Quotations) with "Existing CSA" applicable

Mid-market Valuation (Indicative Quotations)

Oslo

Mid-market Valuation (Indicative

Mid-market Valuation

Warsaw and London

Five Exercise Business Days prior to relevant CSPD

Two Valuation Business Days prior to CSPD

9:00 a.m. London time

Five Exercise Business Days prior to relevant CSPD

Two Valuation Business Days prior to CSPD

9:00 a.m. Oslo time

Five Exercise Business

Two Valuation Business

9:00 a.m. London time

11:00 a.m. London time

12:00 noon Oslo time

11:00 a.m. London time

TELBOR

Reference Banks

NOWA

Reference Banks

POLONIA Reference Banks

GBP / EUR

London and TARGET

GBP / USD

London and New York

Five Exercise Business Days prior to CSPD

CSPD

LET: 11:00 a.m. Brussels time

EET: 9:00 a.m. London time

11:00 a.m. London time

LET: 11:00 a.m. London time

EUR USD

HUF / EUR HUF / USD ILS / USD

NOK / EUR NOK / USD

Budapest, London and TARGET Budapest, London and New York

London, Tel Aviv and New York

Oslo, London and TARGET Oslo, London and New York

Five Exercise Business Days prior to CSPD

Two Valuation Business Days prior to CSPD

Five Exercise Business Days prior to CSPD

Two Valuation Business Days prior to CSPD

Five Exercise Business Days prior to CSPD

Two Valuation Business Days prior to CSPD

EET: 9:00 a.m. Budapest time

LET: 11:00 a.m. Budapest time

EET: 9:00 a.m. Tel Aviv time

LET: 11:00 a.m. Tel Aviv time

EET: 9:00 a.m. Oslo time

LET: 12:00 noon Oslo time

11:00 a.m. Budapest time

11:00 a.m. Tel Aviv time

12:00 noon Oslo time

EUR USD USD

EUR USD

PLN / EUR

Warsaw, London and TARGET

Five Exercise Business

Two Valuation Business

EET: 9:00 a.m. Warsaw time

11:00 a.m. Warsaw time

EUR

15 "LIBOR Transactions" means any Transaction where the Floating Rate Option for the Relevant Transaction is a Floating Rate Option based on LIBOR. 16 "SONIA Transactions" means any Transaction where the Floating Rate Option for the Relevant Transaction is a Floating Rate Option based on SONIA.

3 Copyright ? 2021 by International Swaps and Derivatives Association, Inc.

This document has been created under license from ISDA and should not be used, copied or disseminated other than in accordance with the terms of that license.

Currency

Relevant

Transaction Type4

Settlement method

SEK

Cleared Physical Settlement

TRY ZAR

Physical Settlement

Physical Settlement

ASIA PACIFIC

AUD

BBSW Transactions

17

AONIA

Transactions

18

Cleared Physical Settlement

Cleared Physical Settlement

CNY

Physical Settlement

Cash Settlement

Method

Collateralized Cash Price

Collateralized Cash Price

Collateralized Cash Price

Collateralized Cash Price Collateralized Cash Price

Collateralized Cash Price

SWAPTIONS1

Exercise Business

Days

(Cash Settlement and Physical Settlement)

Cash Settlement Valuation

Date

(Cash Settlement

and Physical Settlement)

Cash Settlement Payment

Date Business

Days

Cash Settlement Payment

Date ("CSPD")

following Exercise Date

Automatic Exercise / Fallback Exercise

Stockholm

Exercise Date

Istanbul and London

Exercise Date

Stockholm

Istanbul and London

Two Business Days following Exercise Date

Two Business Days following Exercise Date

(Physical Settlement) Fallback Exercise

(Cash Settlement) Automatic Exercise (with an Exercise Threshold of zero percent)

Fallback Exercise

Johannesburg Exercise

and London

Date

Johannesburg Exercise Date

Fallback Exercise

SINGLE CURRENCY TRANSACTIONS2 - OPTIONAL EARLY TERMINATION AND MANDATORY EARLY TERMINATION

Cash Settlement Method -

OET

Cash Settlement Method -

MET

Exercise Business

Days / Valuation Business

Days

Expiration Date /

Exercise Date5

Cash Settlement Valuation

Date

SINGLE CURRENCY ? SWAPTIONS AND OET/MET

Earliest Exercise

Time

Latest Exercise Time / Cash Settlement Valuation

Time / Expiration

Time

GENERAL

Discount Rate

Settlement Rate

Quotations) with "Existing CSA" applicable

(Indicative Quotations)

Mid-market Valuation (Indicative Quotations) with "Existing CSA" applicable

Mid-market Valuation (Indicative Quotations)

Stockholm

Days prior to relevant CSPD

Days prior to CSPD

Five Exercise Business Days prior to relevant CSPD

Two Valuation Business Days prior to CSPD

9:00 a.m. Stockholm time

11:00 a.m. Stockholm time

STIBOR

Reference Banks

Mid-market Valuation (Indicative Quotations) with "Existing CSA" applicable

Mid-market Valuation (Indicative Quotations)

Istanbul and London

Five Exercise Business Days prior to relevant CSPD

Mid-market Valuation (Indicative Quotations) with "Existing CSA" applicable

Mid-market Valuation (Indicative Quotations)

Johannesburg and London

Five Exercise Business Days prior to relevant CSPD

Two Valuation Business Days prior to CSPD

Two Valuation Business Days prior to CSPD

9:00 a.m. Istanbul time

11:00 a.m. Istanbul time

SOFR

Reference Banks

9:00 a.m. Johannesburg time

11:00 a.m. Johannesburg time

SFXROD

Reference Banks

> LIBOR Floating Rate Options: Sydney and London

Exercise Date

> All other Floating Rate Options: Sydney

Sydney

Beijing

Exercise Date

Beijing

Two Business Days following Exercise Date

Two Business Days

(Physical Settlement) Fallback Exercise

(Cash Settlement) Automatic Exercise (with an Exercise Threshold of zero percent)

Fallback Exercise

Mid-market Valuation (Indicative Quotations) with "Existing CSA" applicable

Mid-market Valuation (Indicative Quotations)

Sydney

Mid-market Valuation (Indicative

Mid-market Valuation

Beijing

Five Exercise Business Days prior to relevant CSPD

Two Valuation Business Days prior to CSPD

9:00 a.m. Sydney time

> Swaptions: 10:00 a.m. Sydney time

AONIA

> OET/MET: 11:00 a.m. Sydney time

Reference Banks

Reference Banks

Five Exercise Business

Two Valuation Business

9:00 a.m. Beijing time

11:00 a.m. Beijing time

SOFR

Reference Banks

Currency Pair

PLN / USD SEK / EUR SEK / USD

TRY / EUR TRY / USD ZAR / EUR ZAR / USD ZAR / GBP AUD / EUR AUD / USD

CNY / EUR

Exercise Business

Days / Valuation Business

Days

CROSS CURRENCY TRANSACTIONS3

Expiration Date /

Exercise Date

Cash Settlement Valuation

Date

Earliest Exercise Time ("EET") & Latest Exercise Time ("LET")

Cash Settlement Valuation

Time / Expiration

Time

Cash Settlement Currency

Warsaw, London and New York

Stockholm, London and TARGET

Stockholm, London and New York

Days prior to CSPD

Days prior to CSPD

LET: 11:00 a.m. Warsaw time

Five Exercise Business Days prior to CSPD

Two Valuation Business Days prior to CSPD

EET: 9:00 a.m. Stockholm time

LET: 11:00 a.m. Stockholm time

11:00 a.m. Stockholm time

USD EUR USD

Istanbul, London and TARGET

Istanbul, London and New York

Five Exercise Business Days prior to CSPD

Two Valuation Business Days prior to CSPD

Johannesburg, London and TARGET

Johannesburg, London and New York

Johannesburg and London

Five Exercise Business Days prior to CSPD

Two Valuation Business Days prior to CSPD

EET: 9:00 a.m. Istanbul time

LET: 11:00 a.m. Istanbul time

11:00 a.m. Istanbul time

EUR USD

EET: 9:00 a.m. Johannesburg time

11:00 a.m. Johannesburg time

EUR USD

LET: 11:00 a.m. Johannesburg time

GBP

Sydney, London and TARGET

Sydney, New York and London

Five Exercise Business Days prior to CSPD

Two Valuation Business Days prior to CSPD

EET: 9:00 a.m. Sydney time

LET: 11:00 a.m. Sydney time

11:00 a.m. Sydney time

EUR USD

Beijing, TARGET and New York

Five Exercise Business

Two Valuation Business

EET: 9:00 a.m. Beijing time

11:00 a.m. Beijing time

EUR

17 "BBSW Transactions" means any Transaction where the Floating Rate Option for the Relevant Transaction is a Floating Rate Option based on BBSW. 18 "AONIA Transactions" means any Transaction where the Floating Rate Option for the Relevant Transaction is a Floating Rate Option based on AONIA.

4 Copyright ? 2021 by International Swaps and Derivatives Association, Inc.

This document has been created under license from ISDA and should not be used, copied or disseminated other than in accordance with the terms of that license.

Currency

Relevant

Transaction Type4

Settlement method

HKD

HIBOR Transactions

19

HONIA Transactions

20

Physical Settlement

Physical Settlement

IDR

Physical

Settlement

INR

Physical

Settlement

JPY

JPY-LIBOR /

Cleared

TIBOR /

Physical

ZTIBOR

Settlement

Transactions

21

TONA

Transactions

22

Cash Settlement

Method

Collateralized Cash Price Collateralized Cash Price

Collateralized Cash Price

Collateralized Cash Price

Collateralized Cash Price Collateralized Cash Price

SWAPTIONS1

Exercise Business

Days

(Cash Settlement and Physical Settlement)

Cash Settlement Valuation

Date

(Cash Settlement

and Physical Settlement)

Cash Settlement Payment

Date Business

Days

Hong Kong

Exercise Date

Hong Kong

Cash Settlement Payment

Date ("CSPD")

Automatic Exercise / Fallback Exercise

following Exercise Date

Exercise Date

Fallback Exercise

SINGLE CURRENCY TRANSACTIONS2 - OPTIONAL EARLY TERMINATION AND MANDATORY EARLY TERMINATION

Cash Settlement Method -

OET

Cash Settlement Method -

MET

Exercise Business

Days / Valuation Business

Days

Expiration Date /

Exercise Date5

Cash Settlement Valuation

Date

SINGLE CURRENCY ? SWAPTIONS AND OET/MET

Earliest Exercise

Time

Latest Exercise Time / Cash Settlement Valuation

Time / Expiration

Time

GENERAL

Discount Rate

Settlement Rate

Quotations) with "Existing CSA" applicable

(Indicative Quotations)

Mid-market Valuation (Indicative Quotations) with "Existing CSA" applicable

Mid-market Valuation (Indicative Quotations)

Hong Kong

Days prior to relevant CSPD

Days prior to CSPD

Five Exercise Business Days prior to relevant CSPD

CSPD

9:00 a.m. Hong Kong time

11:00 a.m. Hong Kong time

HONIA

Reference Banks

Reference Banks

Jakarta

Exercise Date

Jakarta

Two Business Days following Exercise Date

Fallback Exercise

Mumbai

Exercise Date

Mumbai

Two Business Days following Exercise Date

Fallback Exercise

> LIBOR Floating Rate Options: Tokyo and London

Exercise Date

> All other Floating Rate Options: Tokyo

> LIBOR Floating Rate Options: Tokyo and London

> All other Floating Rate Options: Tokyo

Two Business Days following Exercise Date

Fallback Exercise

Mid-market Valuation (Indicative Quotations) with "Existing CSA" applicable

Mid-market Valuation (Indicative Quotations)

Jakarta

Mid-market Valuation (Indicative Quotations) with "Existing CSA" applicable

Mid-market Valuation (Indicative Quotations)

Mumbai

Mid-market Valuation (Indicative Quotations) with "Existing CSA" applicable

Mid-market Valuation (Indicative Quotations)

> LIBOR Floating Rate Options: Tokyo and London

> All other Floating Rate Options: Tokyo

Five Exercise Business Days prior to relevant CSPD

Two Valuation Business Days prior to CSPD

9:00 a.m. Jakarta time

Five Exercise Business Days prior to relevant CSPD

> INRMIFOR: Two Valuation Business Days prior to CSPD

9:00 a.m. Mumbai time

Five Exercise Business Days prior to relevant CSPD

> All Other Floating Rate Options: One Valuation Business Day prior to CSPD

Two Valuation Business Days prior to CSPD

9:00 a.m. Tokyo time

11:00 a.m. Jakarta time

11:00 a.m. Mumbai time

3:00 p.m. Tokyo time

SOFR TONA

Reference Banks

Reference Banks

Tokyo Swap Reference Rate Reference Banks

Currency Pair

CNY / USD HKD / EUR HKD / GBP HKD / USD N/A

N/A

JPY / EUR JPY / USD

Exercise Business

Days / Valuation Business

Days

CROSS CURRENCY TRANSACTIONS3

Expiration Date /

Exercise Date

Cash Settlement Valuation

Date

Earliest Exercise Time ("EET") & Latest Exercise Time ("LET")

Cash Settlement Valuation

Time / Expiration

Time

Cash Settlement Currency

New York, Hong Kong and Beijing

Days prior to CSPD

Days prior to CSPD

LET: 11:00 a.m. Beijing time

Hong Kong and TARGET

Hong Kong and London

Hong Kong, New York and London

N/A

Five Exercise Business Days prior to CSPD

Two Valuation Business Days prior to CSPD

N/A

N/A

EET: 9.00 a.m. Hong Kong time

LET: 11:00 a.m. Hong Kong time

N/A

11:00 a.m. Hong Kong time

N/A

USD

EUR GBP USD N/A

N/A

N/A

N/A

N/A

N/A

N/A

Tokyo, London and TARGET

Tokyo, London and New York

Five Exercise Business Days prior to CSPD

Two Valuation Business Days prior to CSPD

EET: 9:00 a.m. Tokyo time

LET: 3:00 p.m. Tokyo time

3:00 p.m. Tokyo time

EUR USD

19 "HIBOR Transactions" means any Transaction where the Floating Rate Option for the Relevant Transaction is a Floating Rate Option based on HIBOR. 20 "HONIA Transactions" means any Transaction where the Floating Rate Option for the Relevant Transaction is a Floating Rate Option based on HONIA. 21 "JPY-LIBOR / TIBOR / ZTIBOR Transactions " means any Transaction where the Floating Rate Option for the Relevant Transaction is a Floating Rate Option based on Yen LIBOR, Yen TIBOR or Euroyen TIBOR. 22 "TONA Transactions" means any Transaction where the Floating Rate Option for the Relevant Transaction is a Floating Rate Option based on TONA.

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