Tier 2

Redemption upon Capital Disqualification Event

If this Condition 6(h) is specified as being applicable in the relevant Final Terms, then, following the occurrence of a Capital Disqualification Event and subject to Condition 6(j) (Supervisory Consent), the Issuer may, within 90 days of the occurrence of the relevant Capital Disqualification Event and on giving not less than 30 nor more than 60 days' notice (ending, in the case of Floating Rate Notes, on an Interest Payment Date) to the Trustee (with a copy to the Principal Paying Agent) and to the Noteholders in accordance with Condition 13 (Notices), at its option, redeem all, but not some only, of the Subordinated Notes (such option to redeem being referred to herein as a "Capital Disqualification Event Early Redemption Option") at the Capital Disqualification Event Early Redemption Price specified in the relevant Final Terms, together with interest accrued and unpaid, if any, to the date fixed for redemption.

"Capital Disqualification Event" means an event that shall be deemed to have occurred if the Issuer determines at any time after the Issue Date, that there is a change in the regulatory classification of the Subordinated Notes that results in or will result in:
(a) their exclusion in whole or in part from the regulatory capital of the Group; or
(b) their reclassification in whole or in part as a form of regulatory capital of the Group that is lower than Tier 2 capital (if any);

Statutory Write-Down Or Conversion: Applicable