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(ii)The following Valuation Methods may be specified in the rele<strong>van</strong>tFinal Terms for a Series with only one Refer<strong>en</strong>ce Obligation andmore than one Valuation Date:(A)(B)(C)“Average Market” means the unweighted arithmetic meanof the Market Values <strong>de</strong>termined by the Calculation Ag<strong>en</strong>twith respect to each Valuation Date; or“Highest” means the highest Quotation obtained by theCalculation Ag<strong>en</strong>t with respect to any Valuation Date; or“Average Highest” means the unweighted arithmeticmean of the highest Quotations obtained by the CalculationAg<strong>en</strong>t with respect to each Valuation Date.If no such Valuation Method <strong>is</strong> specified in the rele<strong>van</strong>t FinalTerms, the Valuation Method shall be Average Highest.(iii)The following Valuation Methods may be specified in the rele<strong>van</strong>tFinal Terms for a Series with more than one Refer<strong>en</strong>ce Obligationand only one Valuation Date:(A)(B)“Bl<strong>en</strong><strong>de</strong>d Market” means the unweighted arithmetic meanof the Market Value for each Refer<strong>en</strong>ce Obligation<strong>de</strong>termined by the Calculation Ag<strong>en</strong>t with respect to theValuation Date; or“Bl<strong>en</strong><strong>de</strong>d Highest” means the unweighted arithmetic meanof the highest Quotations obtained by the CalculationAg<strong>en</strong>t for each Refer<strong>en</strong>ce Obligation with respect to theValuation Date.If no such Valuation Method <strong>is</strong> specified in the rele<strong>van</strong>t FinalTerms, the Valuation Method shall be Bl<strong>en</strong><strong>de</strong>d Highest.(iv)The following Valuation Methods may be specified in the rele<strong>van</strong>tFinal Terms for a Series with more than one Refer<strong>en</strong>ce Obligationand more than one Valuation Date:(A)(B)“Average Bl<strong>en</strong><strong>de</strong>d Market” means, using values withrespect to each Valuation Date <strong>de</strong>termined by theCalculation Ag<strong>en</strong>t in accordance with the Bl<strong>en</strong><strong>de</strong>d MarketValuation Method, the unweighted arithmetic mean of thevalues so <strong>de</strong>termined with respect to each Valuation Date;or“Average Bl<strong>en</strong><strong>de</strong>d Highest” means, using values withrespect to each Valuation Date <strong>de</strong>termined by theCalculation Ag<strong>en</strong>t in accordance with the Bl<strong>en</strong><strong>de</strong>d HighestValuation Method, the unweighted arithmetic mean of thevalues so <strong>de</strong>termined with respect to each Valuation Date.215

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