.NET rewrite rules on web.release.config

Question

We have a .NET webapp with the follwing rewrite rules for redirect:

<?xml version="1.0"?>
<configuration xmlns:xdt="http://schemas.microsoft.com/XML-Document-Transform">
  <system.webServer>
    <rewrite xdt:Transform="Insert">
      <rules>
        <rule name="Redirect to target domain">
          <match url="(.*)" ignoreCase="true" />
          <conditions>
            <add input="{HTTP_HOST}" negate="true" pattern="%%%Redirect Pattern%%%" />
          </conditions>
          <action type="Redirect" url="%%%Redirect Target%%%/{R:1}" redirectType="Permanent" />
        </rule>
      </rules>
    </rewrite>
  </system.webServer>
</configuration>

I am not sure what this rewrite rule is exactly doing and what does '%%%Redirect Target%%%' refers to. Can anyone give us some advice on this?

Update 1:

• Redirect Pattern => "^www.somewebname.com$"
• Redirect target => "https://www.somewebname.com"

Is this redirect only adding "https://" to the original url?