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Template:Record amount paid amount ex amount (view source)
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Nor does the [[User’s Guide to the 2002 ISDA Equity Derivatives Definitions|ISDA equity derivative user’s guide]]. It suggests, without saying in which cases, that you might need a [[clawback]] right if you don’t want to be on the hook for a {{eqderivprov|Dividend Amount}} declared but not eventually paid by the {{eqderivprov|Issuer}}. But consider this: in what universe would the writer of a derivative referencing an Share, wish to be liable for a dividend declared on but not ultimately paid by the {{eqderivprov|Issuer}}? That would be to do something [[equity derivative]]s are expressly designed not to do. | Nor does the [[User’s Guide to the 2002 ISDA Equity Derivatives Definitions|ISDA equity derivative user’s guide]]. It suggests, without saying in which cases, that you might need a [[clawback]] right if you don’t want to be on the hook for a {{eqderivprov|Dividend Amount}} declared but not eventually paid by the {{eqderivprov|Issuer}}. But consider this: in what universe would the writer of a derivative referencing an Share, wish to be liable for a dividend declared on but not ultimately paid by the {{eqderivprov|Issuer}}? That would be to do something [[equity derivative]]s are expressly designed not to do. | ||
===House view: S.N.A.F.U.=== | |||
The [[JC]] concludes this is simply a howler in the {{eqdefs}} which ISDA hastily tried to cover up with that clawback malarkey. In any case, to be safe, reference the {{eqderivprov|Paid Amount}}. Consensus amongst market professionals we have consulted is that {{eqderivprov|Paid Amount}} does, as its drafting suggests, depend on the {{eqderivprov|Issuer}} ponying up. That is where you want to be. | The [[JC]] concludes this is simply a howler in the {{eqdefs}} which ISDA hastily tried to cover up with that clawback malarkey. In any case, to be safe, reference the {{eqderivprov|Paid Amount}}. Consensus amongst market professionals we have consulted is that {{eqderivprov|Paid Amount}} does, as its drafting suggests, depend on the {{eqderivprov|Issuer}} ponying up. That is where you want to be. <br> | ||