Securities subject to the Offer may also be validly withdrawn at any time after the 60th business day after commencement of the Offer if for any reason the Offer has not been consummated within 60 business days after commencement. Tenders of Securities pursuant to the Offer may be validly withdrawn at any time before the earlier of (i) the Expiration Date, and (ii) if the Offer is extended, the 10th business day after commencement of the Offer. If the Dealer Managers determine that the Reference Page is not operational or is displaying inaccurate information at that time, the bid and offered swap rates for the 2 Year USD Semi–Annual Mid–Swap Rate and the 3 Year USD Semi–Annual Mid–Swap Rate determined at or around the Pricing Determination Date shall be determined by such other means as the Offeror, in consultation with the Dealer Managers, may consider to be appropriate under the circumstances. The Interpolated Swap Rate will be determined at the Pricing Determination Date. The Interpolated Swap Rate will be calculated in accordance with standard market practice and will be based on the bid and offered swap rates for the 2 Year USD Semi–Annual Mid–Swap Rate and the 3 Year USD Semi–Annual Mid–Swap Rate, each as displayed on the Interest Rate Swap Rate ("IRSB") Bloomberg Reference Page "IRSB US" (the "Reference Page") as of the Pricing Determination Date.
Capitol one financial corp plus#
The Offeror will pay the Purchase Price, plus accrued and unpaid interest from the most recent interest payment date to, but not including, the Settlement Date (the "Accrued Interest") for any Securities validly tendered (and not validly withdrawn) by the Holders at any time on or prior to the Expiration Date and accepted for purchase by the Offeror in same-day funds on the Settlement Date. The purchase price payable for the Securities (the "Purchase Price") will be a price per $1,000 principal amount of the Securities validly tendered (and not validly withdrawn) by the Holders at any time on or prior to the Expiration Date and accepted for purchase by the Offeror equal to an amount, calculated in accordance with the Offer to Purchase, that would reflect, as of the Expiration Date, a yield to the expected principal payment date for the Securities equal to the sum of (i) the Interpolated Swap Rate (as defined in the Offer to Purchase and calculated thereunder), determined at 2:00 p.m., New York City time, on the Expiration Date (the "Pricing Determination Date"), plus (ii) the Fixed Spread set forth under the heading "Fixed Spread" above, minus Accrued Interest (as defined below) on the Securities, as more fully described in the Offer to Purchase. Upon the terms and subject to the conditions of the Offer, the Settlement Date is expected to be October 1, 2020.
The Offer is scheduled to expire at 5:00 p.m., New York City time, on September 25, 2020, unless extended or earlier terminated (the "Expiration Date"). The Offer is being made pursuant to an Offer to Purchase dated September 21, 2020 (the "Offer to Purchase"), which contains detailed information concerning the terms of the Offer.
The actual Purchase Price will differ from the hypothetical Purchase Price when calculated as of the Pricing Determination Date (as defined below) or the Settlement Date (as defined below) due to changes in the Interpolated Swap Rate. This hypothetical Purchase Price is for reference only. Per $1,000 principal amount of Securities using a hypothetical Pricing Determination Date of September 18, 2020, a hypothetical Settlement Date of October 1, 2020 and a hypothetical Interpolated Swap Rate which would have been in effect had it been measured at 2:00 p.m., New York City time, on September 18, 2020.
Capitol one financial corp series#
The Securities represent the most senior class of a series of notes issued by the Trust, referred to as the " Series 2013-I Notes." The Offeror owns each of the subordinated classes of the Series 2013-I Notes, which consist of the Class B, Class C, and Class D Fixed Rate Asset-Backed Notes, Series 2013-I.
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