Variable Interest, if any, will be paid at maturity and determined by multiplying your Principal Amount by the GIC Return. The GIC Return will be equal to the Participation Rate multiplied by the Portfolio Return, provided that if such number is less than or equal to zero, the GIC Return will be equal to zero. The Portfolio Return will be equal to the average of the four (4) Index Returns. The Index Return for each Index will measure the percentage increase or decrease in the Closing Level of that Index, measured from its Closing Level on the Issue Date to its Closing Level on the Valuation Date. It is possible that no Variable Interest will be payable at maturity on the GICs. No Variable Interest will be payable at maturity unless the Portfolio Return is positive. If no Variable Interest is payable, you will still be entitled to receive your Principal Amount at maturity.