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Template:2002 ISDA Equity Derivatives Definitions 11.2(c): Difference between revisions
Template:2002 ISDA Equity Derivatives Definitions 11.2(c) (view source)
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{{eqderivprov|11.2(c)}} If “'''{{p|eq|Calculation Agent Adjustment (Share Transactions)|Calculation Agent Adjustment}}''' | {{eqderivprov|11.2(c)}} If “'''{{p|eq|Calculation Agent Adjustment (Share Transactions)|Calculation Agent Adjustment}}'''” is specified as the {{eqderivprov|Method of Adjustment}} in the <br>related {{csaprov|Confirmation}} of a {{eqderivprov|Share Transaction}} or {{eqderivprov|Share Basket Transaction}} (or if no {{eqderivprov|Method of Adjustment}} <br> is specified in the related {{eqderivprov|Confirmation}} for such {{eqderivprov|Transaction}}), then following the declaration by the <br>{{eqderivprov|Issuer}} of the terms of any {{eqderivprov|Potential Adjustment Event}}, the {{eqderivprov|Calculation Agent}} will determine whether <br>such {{eqderivprov|Potential Adjustment Event}} has a diluting or concentrative effect on the theoretical value of the <br>relevant {{eqderivprov|Shares}} and, if so, will (i) make the corresponding adjustment(s), if any, to any one or more of: <br> | ||
:(A) in respect of a {{eqderivprov|Share Option Transaction}} or a {{eqderivprov|Share Basket Option Transaction}}, <br>the {{eqderivprov|Strike Price}}, the {{eqderivprov|Number of Options}}, the {{eqderivprov|Option Entitlement}}, the {{eqderivprov|Knock-in Price}}, the Knockout <br>Price, and the relevant {{eqderivprov|Number of Shares}}; <br> | :(A) in respect of a {{eqderivprov|Share Option Transaction}} or a {{eqderivprov|Share Basket Option Transaction}}, <br>the {{eqderivprov|Strike Price}}, the {{eqderivprov|Number of Options}}, the {{eqderivprov|Option Entitlement}}, the {{eqderivprov|Knock-in Price}}, the Knockout <br>Price, and the relevant {{eqderivprov|Number of Shares}}; <br> | ||
:(B) in respect of a {{eqderivprov|Share Forward Transaction}} or a Share Basket Forward <br>Transaction, the {{eqderivprov|Forward Price}}, the {{eqderivprov|Forward Floor Price}}, the {{eqderivprov|Forward Cap Price}}, the Knock-in <br>Price, the {{eqderivprov|Knock-out Price}}, and the relevant {{eqderivprov|Number of Shares}}; <br> | :(B) in respect of a {{eqderivprov|Share Forward Transaction}} or a Share Basket Forward <br>Transaction, the {{eqderivprov|Forward Price}}, the {{eqderivprov|Forward Floor Price}}, the {{eqderivprov|Forward Cap Price}}, the Knock-in <br>Price, the {{eqderivprov|Knock-out Price}}, and the relevant {{eqderivprov|Number of Shares}}; <br> | ||
:(C) in respect of a {{eqderivprov|Share Swap Transaction}} or a {{eqderivprov|Share Basket Swap Transaction}}, the <br>{{eqderivprov|Initial Price}}, the {{eqderivprov|Equity Notional Amount}}, the {{eqderivprov|Knock-in Price}}, the {{eqderivprov|Knock-out Price}}, and the <br>relevant {{eqderivprov|Number of Shares}}; <br> | :(C) in respect of a {{eqderivprov|Share Swap Transaction}} or a {{eqderivprov|Share Basket Swap Transaction}}, the <br>{{eqderivprov|Initial Price}}, the {{eqderivprov|Equity Notional Amount}}, the {{eqderivprov|Knock-in Price}}, the {{eqderivprov|Knock-out Price}}, and the <br>relevant {{eqderivprov|Number of Shares}}; <br> | ||
and, in any case, any other variable relevant to the exercise, settlement, payment or other terms of that <br>{{eqderivprov|Transaction}} as the {{eqderivprov|Calculation Agent}} determines appropriate to account for that diluting or concentrative <br>effect (provided that no adjustments will be made to account solely for changes in volatility, expected <br>dividends, stock loan rate or liquidity relative to the relevant {{eqderivprov|Share}}) and (ii) determine the effective <br>date(s) of the adjustment(s). The {{eqderivprov|Calculation Agent}} may (but need not) determine the appropriate <br>adjustment(s) by reference to the adjustment(s) in respect of such {{eqderivprov|Potential Adjustment Event}} made by an <br>options exchange to options on the relevant {{eqderivprov|Shares}} traded on such options exchange. <br> | and, in any case, any other variable relevant to the exercise, settlement, payment or other terms of that <br>{{eqderivprov|Transaction}} as the {{eqderivprov|Calculation Agent}} determines appropriate to account for that diluting or concentrative <br>effect (provided that no adjustments will be made to account solely for changes in volatility, expected <br>dividends, stock loan rate or liquidity relative to the relevant {{eqderivprov|Share}}) and (ii) determine the effective <br>date(s) of the adjustment(s). The {{eqderivprov|Calculation Agent}} may (but need not) determine the appropriate <br>adjustment(s) by reference to the adjustment(s) in respect of such {{eqderivprov|Potential Adjustment Event}} made by an <br>options exchange to options on the relevant {{eqderivprov|Shares}} traded on such options exchange. <br> | ||