Template:2002 ISDA Equity Derivatives Definitions 9.5: Difference between revisions
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Amwelladmin (talk | contribs) Created page with "Section {{eqderivprov|9.5}}. “'''{{eqderivprov|Number of Shares to be Delivered}}'''”. “'''{{eqderivprov|Number of Shares to be Delivered}}'''” means the number of {{e..." |
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::''({{eqderivprov|Foward Floor Price}}/{{eqderiv|Settlement Price}}) x {{eqderivprov|Number of Shares}}''; and<br> | ::''({{eqderivprov|Foward Floor Price}}/{{eqderiv|Settlement Price}}) x {{eqderivprov|Number of Shares}}''; and<br> | ||
::(iii) if the {{eqderivprov|Settlement Price}} is greater than the {{eqderivprov|Forward Cap Price}}, a number of {{eqderivprov|Shares}} equal to: <br> | ::(iii) if the {{eqderivprov|Settlement Price}} is greater than the {{eqderivprov|Forward Cap Price}}, a number of {{eqderivprov|Shares}} equal to: <br> | ||
::''(({{eqderivprov|Forward Floor Price}} + | ::''(({{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 that 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> | [[In that 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> | ||
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 that 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.