Template:Nutshell Equity Derivatives 1.49: Difference between revisions

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Section {{eqderivprov|1.48}}. '''{{eqderivprov|Knock-in Determination Day}}'''. “'''{{eqderivprov|Knock-in Determination Day}}'''” means, in respect of a {{eqderivprov|Transaction}} for which a {{eqderivprov|Knock-in Event}} is specified as being applicable, each {{eqderivprov|Scheduled Trading Day}} specified as such in the related {{eqderivprov|Confirmation}}, unless such day is a {{eqderivprov|Disrupted Day}} due to the occurrence of an event giving rise to a {{eqderivprov|Disrupted Day}} prior to the {{eqderivprov|Knock-in Valuation Time}} on such day. If such day is a {{eqderivprov|Disrupted Day}} due to the occurrence of such an event, then the {{eqderivprov|Knock-in Determination Day}} shall be the first succeeding {{eqderivprov|Scheduled Trading Day}} that is not a {{eqderivprov|Disrupted Day}}, unless each of the eight {{eqderivprov|Scheduled Trading Days}} immediately following the original date that, but for the occurrence of a {{eqderivprov|Disrupted Day}}, would have been the Knock-in Determination Day is a {{eqderivprov|Disrupted Day}}. In that case, that eighth {{eqderivprov|Scheduled Trading Day}} shall be deemed to be the {{eqderivprov|Knock-in Determination Day}}, notwithstanding the fact that such day is a {{eqderivprov|Disrupted Day}}, and the {{eqderivprov|Calculation Agent}} shall determine the level, price or amount of the {{eqderivprov|Knock-in Reference Security}} in the same manner that it would determine a level, price or amount of an {{eqderivprov|Index}}, Share or {{eqderivprov|Basket}} on a deemed {{eqderivprov|Valuation Date}} that is also a {{eqderivprov|Disrupted Day}} in accordance with the provisions of Section {{eqderivprov|6.6}}({{eqderivprov|a}})({{eqderivprov|ii}}), (b) or (c), as the case may be. [[In the event that]] the related {{eqderivprov|Confirmation}} does not specify any {{eqderivprov|Knock-in Determination Day}}s, each {{eqderivprov|Scheduled Trading Day}} from and including the {{eqderivprov|Trade Date}} to and including the final {{eqderivprov|Valuation Date}}, the {{eqderivprov|Expiration Date}} or, if there is no such {{eqderivprov|Valuation Date}} or {{eqderivprov|Expiration Date}}, the date that is one {{eqderivprov|Settlement Cycle}} prior to the final {{eqderivprov|Settlement Date}} in relation to the {{eqderivprov|Transaction}} (adjusted, if applicable, as provided in {{eqderivprov|Sections 3.1}}({{eqderivprov|f}}) and {{eqderivprov|6.6}}) shall be deemed to be {{eqderivprov|Knock-in Determination Day}}s in relation to the {{eqderivprov|Transaction}}. <br>
{{eqderivprov|1.49}}. “'''{{eqderivprov|Knock-out Determination Day}}'''” means each specified {{eqderivprov|Scheduled Trading Day}}, unless it is a {{eqderivprov|Disrupted Day}} due to an event occurring before the {{eqderivprov|Knock-out Valuation Time}}, in which case it will be the following undisrupted {{eqderivprov|Scheduled Trading Day}}, though if eight {{eqderivprov|Scheduled Trading Days}} in a row are {{eqderivprov|Disrupted Day}}s, the eighth one, even though a {{eqderivprov|Disrupted Day}}, will be the {{eqderivprov|Knock-out Determination Day}}. In this case the {{eqderivprov|Calculation Agent}} must determine the level of the {{eqderivprov|Knock-out Reference Security}} as if it were an {{eqderivprov|Underlier}} on a disrupted {{eqderivprov|Valuation Date}} using the method set out in Section {{eqderivprov|6.6}}.  
 
Unless otherwise specified the {{eqderivprov|Knock-out Determination Day}}s will be each {{eqderivprov|Scheduled Trading Day}} from and including the {{eqderivprov|Trade Date}} to and including the final {{eqderivprov|Valuation Date}}, the {{eqderivprov|Expiration Date}} or, if none, the date one {{eqderivprov|Settlement Cycle}} prior to the final {{eqderivprov|Settlement Date}} for the {{eqderivprov|Transaction}} (adjusted as necessary  under Sections {{eqderivprov|3.1(f)}} and {{eqderivprov|6.6}}). <br>

Latest revision as of 07:31, 10 May 2022

1.49. “Knock-out Determination Day” means each specified Scheduled Trading Day, unless it is a Disrupted Day due to an event occurring before the Knock-out Valuation Time, in which case it will be the following undisrupted Scheduled Trading Day, though if eight Scheduled Trading Days in a row are Disrupted Days, the eighth one, even though a Disrupted Day, will be the Knock-out Determination Day. In this case the Calculation Agent must determine the level of the Knock-out Reference Security as if it were an Underlier on a disrupted Valuation Date using the method set out in Section 6.6.

Unless otherwise specified the Knock-out Determination Days will be each Scheduled Trading Day from and including the Trade Date to and including the final Valuation Date, the Expiration Date or, if none, the date one Settlement Cycle prior to the final Settlement Date for the Transaction (adjusted as necessary under Sections 3.1(f) and 6.6).

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