Division 3 Redemption
United Kingdom
- (a)Division (a)
- (b)Subject to the remaining provisions of this paragraph 3, all or some of the callable shares shall be redeemed on the day immediately following the 2016 Annual Meeting with the number of the shares to be redeemed being calculated by applying an agreed formula (the Agreed Formula) based on the unutilised callable capital, if any, at the end of the CRR4 period relative to a statutory capital utilisation threshold of 87 % at the end of the CRR4 Period. For calculation purposes, such unutilised callable capital, if any, shall be equal to an amount which is the lesser of EUR 9 000 000 000 and ((87 % of A) – B), where:
- (c)Division (c)
- (d)In the period immediately leading up to the 2015 Annual Meeting:
- (e)Division (e)
- (f)Division (f)
- (g)Division (g)
- (h)Division (h)