Early redemption of Notes upon Loss Absorption Disqualification Event

If this Condition 9.4 is specified as being applicable in the Pricing Supplement and subject to Condition 9.11 (“Supervisory consent”), then, following the occurrence of a Loss Absorption Disqualification Event, the Issuer may on giving no less than 30 nor more than 60 days’ notice (or such other period specified in the relevant Pricing Supplement) (ending, in the case of Floating Rate Notes, on an Interest Payment Date) to the Registrar, the Noteholders, each other Agent and any stock or securities exchange or other relevant authority on which the Notes are listed in accordance with Condition 19 (“Notices”), at its option, redeem all, but not some only, of the Notes (such option to redeem being referred to herein as a “Loss Absorption Disqualification Event Early Redemption Option”) at the Loss Absorption Disqualification Event Early Redemption Price specified in the Pricing Supplement, together with interest accrued and unpaid, if any, to the date fixed for redemption.

The Issuer may at its option redeem all but not some only of the Notes following the occurrence of a Loss Absorption Disqualification Event at a redemption price equal to 100% of their principal amount, plus any accrued and unpaid interest to (but excluding) the applicable redemption date, subject to any required supervisory consent and as further set out in the Conditions of the Notes.