Template:2002 ISDA Equity Derivatives Definitions 9.5: Difference between revisions
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::''(({{eqderivprov|Forward Floor Price}} + {{eqderivprov|Settlement Price}} - {{eqderivprov|Forward Cap Price}})/{{eqderivprov|Settlement Price}}) x {{eqderivprov|Number of Shares}} <br> | ::''(({{eqderivprov|Forward Floor Price}} + {{eqderivprov|Settlement Price}} - {{eqderivprov|Forward Cap Price}})/{{eqderivprov|Settlement Price}}) x {{eqderivprov|Number of Shares}} <br> | ||
:(d) under a {{eqderivprov|Share Swap Transaction}}, the {{eqderivprov|Number of Shares}}. <br> | :(d) under a {{eqderivprov|Share Swap Transaction}}, the {{eqderivprov|Number of Shares}}. <br> | ||
[[In | :[[In the event that]] the number of {{eqderivprov|Shares}} calculated as set out above comprises any fractional {{eqderivprov|Share}}, the {{eqderivprov|Number of Shares}} to be {{eqderivprov|Delivered}} will include only whole {{eqderivprov|Shares}} and a {{eqderivprov|Fractional Share Amount}} will be payable by the relevant party in lieu of such fractional {{eqderivprov|Share}}. <br> | ||
Latest revision as of 13:19, 10 May 2018
Section 9.5. “Number of Shares to be Delivered”. “Number of Shares to be Delivered” means the number of Shares calculated as set out below:
- (a) in respect of an Exercise Date under a Share Option Transaction, a number of Shares equal to the number of Options exercised or deemed exercised on that Exercise Date multiplied by the Option Entitlement;
- (b) under a Share Forward Transaction for which “Variable Obligation” is not applicable, the Number of Shares;
- (c) under a Share Forward Transaction for which “Variable Obligation” is applicable:
- (i) if the Settlement Price is less than or equal to the Forward Floor Price, the Number of Shares;
- (ii) if the Settlement Price is greater than the Forward Floor Price but less than or equal to the Forward Cap Price, a number of Shares equal to:
- (Foward Floor Price/Equity Derivatives) x Number of Shares; and
- (iii) if the Settlement Price is greater than the Forward Cap Price, a number of Shares equal to:
- ((Forward Floor Price + Settlement Price - Forward Cap Price)/Settlement Price) x Number of Shares
- (i) if the Settlement Price is less than or equal to the Forward Floor Price, the Number of Shares;
- (d) under a Share Swap Transaction, the Number of Shares.
- In the event that the number of Shares calculated as set out above comprises any fractional Share, the Number of Shares to be Delivered will include only whole Shares and a Fractional Share Amount will be payable by the relevant party in lieu of such fractional Share.