Interest Rate Transactions 

Dodd-Frank Overview

Product Disclosures & METs

Additional Notifications and Disclosures

Disclosures
Material Economic Terms

Disclosures

ISDA General Disclosure Statement for Transactions

The ISDA General Disclosure Statement for Transactions describes generally: (1) the material characteristics of a wide variety of derivative transactions that we may conduct with you; (2) the material risks of such transactions; and (3) typical material incentives and conflicts of interest that we may have with respect to such transactions.  The ISDA General Disclosure Statement for Transactions is supplemented with more product specific disclosures contained in annexes, including the ISDA Disclosure Annex for Interest Rate Transactions.  For Interest Rate Transactions, the ISDA General Disclosure Statement for Transactions should be read in conjunction with the ISDA Disclosure Annex for Interest Rate Transactions.

ISDA Disclosure Annex for Interest Rate Transactions

The ISDA Disclosure Annex for Interest Rate Transactions supplements and should be read in conjunction with the ISDA General Disclosure Statement for Transactions. NOTHING IN THE ISDA DISCLOSURE ANNEX FOR INTEREST RATE TRANSACTIONS AMENDS OR SUPERSEDES THE EXPRESS TERMS OF ANY TRANSACTION BETWEEN YOU AND US OR ANY RELATED GOVERNING DOCUMENTATION. Accordingly, descriptions in the ISDA Disclosure Annex for Interest Rate Transactions of the operation of Interest Rate Transactions and the consequences of various events are in all cases subject to the actual terms of an Interest Rate Transaction executed between you and us and its governing documentation.

ISDA IBOR Alternative Reference Rates Disclosure

The IBOR Alternative Reference Rates Disclosure supplements and should be read in conjunction with the Disclosure Annex for Interest Rate Transactions. NOTHING IN THIS DISCLOSURE AMENDS OR SUPERSEDES THE EXPRESS TERMS OF ANY TRANSACTION BETWEEN YOU AND US OR ANY RELATED GOVERNING DOCUMENTATION. Accordingly, the information provided in this Disclosure is subject in all cases to the actual terms of a Rates Transaction executed between you and us and its governing documentation.

Material Economic Terms 

Below are the Material Economic Terms that Jefferies is required to provide to you pursuant to CFTC Rule 23.431 and SEC Rule 240.15Fh-3(b) in relation to Interest Rate Transactions entered into between us. These terms should be read prior to entering into Interest Rate Transactions with us.

Certain rights and obligations of the parties to derivative transactions, including Interest Rate Transactions, are contained in Counterparty Relationship Documentation. Please click on the Transaction Risk Information, Disclosures and Documents under Dodd-Frank Overview on the left to find certain forms of Counterparty Relationship Documentation that may be applicable to your relationship with Jefferies.

The terms of any specific Interest Rate Transaction will be contained in the relevant confirmation of the Interest Rate Transaction between Jefferies and you. Confirmations are generally entered into between Jefferies and a counterparty post-trade. Below are links to forms of confirmations relating to a variety of Interest Rate Transactions that Jefferies may enter into with counterparties from time to time.  Any confirmation or other documentation we directly provide to you in respect of an actual or potential Interest Rate Transaction will supersede the information on this web page and, to the extent inconsistent, such confirmation or other documentation will control.  In addition, the agreed upon terms of any Interest Rate Transaction that we enter into with you will be set forth in the confirmation or other agreement that you and we enter into with respect to that Interest Rate Transaction and may differ materially from the terms set forth in the forms available on or through this web page.  By making this web page available, we are not indicating that we are willing to enter into any Interest Rate Transaction with any counterparty on any terms.

Certain terms relating to the operation of an Interest Rate Transaction are contained in the provisions of the 2006 Definitions or the 2021 Definitions.  The relevant confirmation will generally incorporate by reference either the 2006 Definitions or the 2021 Definitions. Below is a link to the 2006 Definitions. Any supplements to the 2006 Definitions or other market documents that are available for purchase from ISDA are available at: www.isda.org. Below is also a link to the 2021 Definitions and related materials.

Please refer to your Counterparty Relationship Documentation, the confirmation templates and the 2006 Definitions or 2021 Definitions (as applicable) as well as the relevant disclosures applicable to Interest Rate Transactions prior to engaging in Interest Rate Transactions with us. 

2006 ISDA Definitions

2021 ISDA Definitions and related Matrices:

  1. Main Book: Version 11
  2. Floating Rate Matrix: Version 11
  3. Settlement Matrix: Version 8
  4. Currency/Business Day Matrix: Version 6
  5. Mark-to-Market Matrix: Version 6

Rate Cap Paid Overtime Transaction Confirmation

Rate Cap Paid Upfront Transaction Confirmation

Interest Rate Swap Floored Swap Transaction Confirmation

Interest Rate Swap Unfloored Swap Transaction Confirmation

Interest Rate Swap USD-SOFR-OIS Compound Confirmation

Interest Rate Swap USD-SOFR CwOPS and Bermuda OET Confirmation

These forms of confirmation templates relate to the most commonly traded Interest Rate Transactions.

ISDA holds copyright on certain ISDA documents (“ISDA Content”) and such works may not be reproduced or distributed without ISDA’s written permission, except the ISDA Master Agreements, ISDA Credit Support Documents and standardized general and product specific risk disclosures published by ISDA, which may be reproduced and distributed solely for use in documenting specific commercial transactions.  In no event may any copyright or trademark notice be removed.  ISDA makes no warranty, express or implied, concerning the suitability of ISDA documentation for use in any particular transaction. You should only enter into transactions after receiving appropriate legal advice with respect to the provisions of ISDA documentation as ISDA bears no responsibility or liability whatsoever, whether in tort or contract, in respect of any such use.  ISDA, its officers, directors, employees, subcontractors, agents, successors or assigns (collectively “Covered Parties”) shall not be liable  to you for any loss, injury, claim, liability or damage of any kind whatsoever resulting from, arising out of or in any way related to: (a) any errors in or omissions from the ISDA Content; (b) your use of the ISDA Content; (c) your use of any equipment or software in connection with the ISDA Content; or (d) any delay or failure in performance. The aggregate liability of the Covered Parties  to you in connection with any other claim arising out of or relating to the ISDA Content shall not exceed $500.00, which right shall be in lieu of all other remedies that you may have against ISDA. In no event shall the Covered Parties be liable for any special, indirect, incidental or consequential damages of any kind whatsoever (including, without limitation, attorneys’ fees), lost profits or lost savings in any way due to, resulting from or arising in connection with the ISDA Content contained therein, regardless of any negligence of the Covered Parties.

Links to websites provided herein are for your reference and convenience.  By clicking on the links to those certain websites you leave the Jefferies website and acknowledge that Jefferies has no control over the content of those websites or the continued availability of materials you may find there.