Template:2002 ISDA Equity Derivatives Definitions 9.6: Difference between revisions
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Section {{eqderivprov|9.6}}. “{{eqderivprov|Number of Baskets to be Delivered}}”. “'''{{eqderivprov|Number of Baskets to be Delivered}}'''” means: <br> | Section {{eqderivprov|9.6}}. “'''{{eqderivprov|Number of Baskets to be Delivered}}'''”. “'''{{eqderivprov|Number of Baskets to be Delivered}}'''” means: <br> | ||
:(a) in respect of an {{eqderivprov|Exercise Date}} under a {{eqderivprov|Share Basket Option Transaction}}, the number of {{eqderivprov|Baskets}} equal to the number of {{eqderivprov|Options}} exercised or deemed exercised on that {{eqderivprov|Exercise Date}} multiplied by the {{eqderivprov|Option Entitlement}}; <br> | :(a) in respect of an {{eqderivprov|Exercise Date}} under a {{eqderivprov|Share Basket Option Transaction}}, the number of {{eqderivprov|Baskets}} equal to the number of {{eqderivprov|Options}} exercised or deemed exercised on that {{eqderivprov|Exercise Date}} multiplied by the {{eqderivprov|Option Entitlement}}; <br> | ||
:(b) under a {{eqderivprov|Share Basket Forward Transaction}} for which “'''{{eqderivprov|Variable Obligation}}'''” is not applicable, the {{eqderivprov|Number of Baskets}}; <br> | :(b) under a {{eqderivprov|Share Basket Forward Transaction}} for which “'''{{eqderivprov|Variable Obligation}}'''” is not applicable, the {{eqderivprov|Number of Baskets}}; <br> | ||
Latest revision as of 13:35, 10 May 2018
Section 9.6. “Number of Baskets to be Delivered”. “Number of Baskets to be Delivered” means:
- (a) in respect of an Exercise Date under a Share Basket Option Transaction, the number of Baskets equal to the number of Options exercised or deemed exercised on that Exercise Date multiplied by the Option Entitlement;
- (b) under a Share Basket Forward Transaction for which “Variable Obligation” is not applicable, the Number of Baskets;
- (c) under a Share Basket 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 Baskets;
- (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 Baskets equal to:
- (Forward Floor Price/Settlement Price) x Number of Baskets; and
- (iii) if the Settlement Price is greater than the Forward Cap Price, a number of Baskets equal to:
- ((Forward Floor Price + Settlement Price - Forward Cap Price)/Settlement Price) x Number of Baskets
- (i) if the Settlement Price is less than or equal to the Forward Floor Price, the Number of Baskets;
- (d) under a Share Basket Swap Transaction, the Number of Baskets.
- In respect of an Issuer comprising the Basket, if the aggregate number of Shares of such Issuer calculated by multiplying the relevant Number of Shares by the Number of Baskets to be Delivered comprises a fractional Share, then the aggregate number of Shares of such Issuer that is delivered will include only whole Shares and a Fractional Share Amount will be payable by the relevant party in lieu of such fractional Share.