Coupon Amounts will be paid on each Coupon Payment Date during the term of the GICs and will be equal to your Principal Amount multiplied by the Coupon Rate. You will be entitled to receive the Coupon Amount on each Coupon Payment Date regardless of the performance of the Asset. The final Coupon Payment Date will occur on the Maturity Date.
Variable Interest, if any, will be paid at maturity and will be equal to your Principal Amount multiplied by the GIC Return.
The GIC Return will be equal to the Asset Return multiplied by the Participation Rate, provided that if such number is less than or equal to zero, the GIC Return will be equal to zero.
For GICs linked to an Index, the Asset Return will measure the percentage increase or decrease in the Closing Level of the Index, measured from its Start Level to its End Level.
For GICs linked to a portfolio of shares (each a “Share” and collectively, the “Shares”) the Asset Return will be equal to the average of the Share Returns.
The Share Return for each Share will measure the percentage increase or decrease in the Closing Level of each Share, measured from each Start Level to each End Level, subject to a minimum Share Return of -25.00% for each Share.