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Euro 6,000,000,000 Euro Medium Term Note Programme Due from ...

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6 Redemption, Purchase and Options<br />

(a) Final Redemption: Unless previously redeemed, purchased and cancelled as provided below or its<br />

maturity is extended in accordance with the paragraph below, each <strong>Note</strong> shall be finally redeemed<br />

on the Maturity Date specified in the relevant Final <strong>Term</strong>s at its Final Redemption Amount (which,<br />

unless otherwise provided in these Conditions, is its nominal amount) or, in the case of a <strong>Note</strong><br />

falling within Condition 6(b) below, its final Instalment Amount.<br />

If an extended maturity date (the "Extended Maturity Date") is specified in the relevant Final<br />

<strong>Term</strong>s, the Issuer may, subject to compliance by the Issuer with all relevant laws, regulations and<br />

directives and on giving not less than 15 nor more than 30 days’ irrevocable notice to that effect in<br />

accordance with Condition 14 to the <strong>Note</strong>holders, not pay whole or part of the Final Redemption<br />

Amount on the Maturity Date specified in the relevant Final <strong>Term</strong>s. Such payment of an unpaid<br />

amount will be deferred and may be paid in whole or in part by the Issuer on any Specified Interest<br />

Payment Date occurring thereafter up to and including the Extended Maturity Date, but shall in any<br />

event be due and payable on the Extended Maturity Date. Interest <strong>from</strong> the Maturity Date and up to<br />

the Extended Maturity Date will be specified in the relevant Final <strong>Term</strong>s, will accrue on any unpaid<br />

amount during such extended period and be payable on each Specified Interest Payment Date and<br />

on the Extended Maturity Date in accordance with these Conditions and the relevant Final <strong>Term</strong>s.<br />

(b) Redemption by Instalments and Final Redemption: Unless previously redeemed, purchased and<br />

cancelled as provided in this Condition 6 or the relevant Instalment Date (being one of the dates so<br />

specified in the relevant Final <strong>Term</strong>s) is extended pursuant to any Issuer’s or <strong>Note</strong>holder’s option in<br />

accordance with Condition 6(d) or (6)(e), each <strong>Note</strong> that provides for Instalment Dates and<br />

Instalment Amounts shall be partially redeemed on each Instalment Date at the related Instalment<br />

Amount specified in the relevant Final <strong>Term</strong>s. The outstanding nominal amount of each such <strong>Note</strong><br />

shall be reduced by the Instalment Amount (or, if such Instalment Amount is calculated by<br />

reference to a proportion of the nominal amount of such <strong>Note</strong>, such proportion) for all purposes<br />

with effect <strong>from</strong> the related Instalment Date, unless payment of the Instalment Amount is<br />

improperly withheld or refused (i) in the case of Dematerialised <strong>Note</strong>s, on the due date for such<br />

payment or (ii) in the case of Materialised <strong>Note</strong>s, on presentation of the related Receipt, in which<br />

case, such amount shall remain outstanding until the Relevant Date relating to such Instalment<br />

Amount.<br />

(c) Final Redemption of Inflation Linked <strong>Note</strong>s: If so specified in the relevant Final <strong>Term</strong>s, the Final<br />

Redemption Amount in respect of Inflation Linked <strong>Note</strong>s will be determined by the Calculation<br />

Agent on the following basis:<br />

"IIR" being for the purpose of this Condition 6(c) the ratio determined on the fifth Business Day<br />

before the Maturity Date between (i) if the CPI is specified as the Index applicable in the Final<br />

<strong>Term</strong>s, the CPI Daily Inflation Reference Index on the Maturity Date and the Base Reference on the<br />

date specified in the relevant Final <strong>Term</strong>s or (ii) if the HICP is specified as the Index applicable in<br />

the Final <strong>Term</strong>s, the HICP Daily Inflation Reference Index on the Maturity Date and the Base<br />

Reference on the date specified in the relevant Final <strong>Term</strong>s.<br />

If the Final Redemption Amount calculated as set out above is below par, the <strong>Note</strong>s will be<br />

redeemed at par.<br />

(d) Redemption at the Option of the Issuer and Partial Redemption:<br />

(i) Call Option<br />

If a Call Option is specified in the relevant Final <strong>Term</strong>s, the Issuer may, subject to compliance by<br />

47

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