Template:Nutshell Equity Derivatives 2.1

Section 2.1. Certain Definitions and Provisions Relating to Option Transactions. When used in relation to an Option Transaction, the following terms have the indicated meanings:

2.1(a) “Commencement Date” means, for an American Option Transaction, the date so specified in the Confirmation (or the next following Scheduled Trading Day, if it is not a Scheduled Trading Day) or if no such date is specified, the Trade Date.

2.1(b) “Number of Options” must be specified in the Confirmation.

2.1(c) “Option Entitlement” means the number of Shares, or Baskets, per Option specified in the Confirmation or, if none is specified, one Share or Basket per Option.

2.1(d) “Option” means each unit into which an Option Transaction is divided for purposes of exercise, valuation or settlement.

2.1(e) “Strike Price” means:

(i) for an Index Option Transaction, the level of the Index specified in the Confirmation;

(ii) for a Share Option Transaction, the price per Share specified in the Confirmation;

(iii) for an Index Basket Option Transaction, the amount per Basket specified in the Confirmation; and