Template:2002 ISDA Equity Derivatives Definitions 5.9: Difference between revisions

Section {{eqderivprov|5.9}}. '''{{eqderivprov|Final Price}}'''. “'''{{eqderivprov|Final Price}}'''” means, in respect of each {{eqderivprov|Valuation Date}}: <br>

:(a) in respect of an {{eqderivprov|Index Swap Transaction}}, the level of the {{eqderivprov|Index}} determined by the <br>{{eqderivprov|Calculation Agent}} as provided in the related {{eqderivprov|Confirmation}} as of the {{eqderivprov|Valuation Time}} on the Valuation <br>Date or, if no means for determining the {{eqderivprov|Final Price}} are so provided, the level of the {{eqderivprov|Index}} as of the <br>{{eqderivprov|Valuation Time}} on the {{eqderivprov|Valuation Date}}; <br>

:(b) in respect of a {{eqderivprov|Share Swap Transaction}}, the price per {{eqderivprov|Share}} determined by the <br>{{eqderivprov|Calculation Agent}} as provided in the related {{eqderivprov|Confirmation}} as of the {{eqderivprov|Valuation Time}} on the Valuation <br>Date or, if no means for determining the {{eqderivprov|Final Price}} are so provided: (i) in respect of any {{eqderivprov|Share}} for which <br>the {{eqderivprov|Exchange}} is an auction or “open outcry” exchange that has a price as of the {{eqderivprov|Valuation Time}} at which <br>any trade can be submitted for execution, the {{eqderivprov|Final Price}} shall be the price per {{eqderivprov|Share}} as of the Valuation <br>Time on the {{eqderivprov|Valuation Date}}, as reported in the official real-time price dissemination mechanism for such <br>{{eqderivprov|Exchange}}; and (ii) in respect of any {{eqderivprov|Share}} for which the {{eqderivprov|Exchange}} is a dealer exchange or dealer <br>quotation system, the {{eqderivprov|Final Price}} shall be the mid-point of the highest bid and lowest ask prices quoted as <br>of the {{eqderivprov|Valuation Time}} on the {{eqderivprov|Valuation Date}} (or the last such prices quoted immediately before the <br>{{eqderivprov|Valuation Time}}), without regard to quotations that “lock” or “cross” the dealer exchange or dealer <br>quotation system; <br>

:(c) in respect of an {{eqderivprov|Index Basket Swap Transaction}}, an amount for the {{eqderivprov|Basket}} determined by <br>the {{eqderivprov|Calculation Agent}} as provided in the related {{eqderivprov|Confirmation}} as of the relevant {{eqderivprov|Valuation Time}}(s) on the <br>{{eqderivprov|Valuation Date}} or, if no means for determining the {{eqderivprov|Final Price}} are so provided, an amount for the {{eqderivprov|Basket}} <br>equal to the sum of the {{eqderivprov|Relevant Prices}} (weighted or adjusted in relation to each {{eqderivprov|Index}} as provided in the <br>related {{eqderivprov|Confirmation}}) for the {{eqderivprov|Indices}} comprised in the {{eqderivprov|Basket}}; and <br>

:(d) in respect of a {{eqderivprov|Share Basket Swap Transaction}}, an amount for the {{eqderivprov|Basket}} determined by <br>the {{eqderivprov|Calculation Agent}} as provided in the related {{eqderivprov|Confirmation}} as of the relevant {{eqderivprov|Valuation Time}}(s) on the <br>{{eqderivprov|Valuation Date}} or, if no means for determining the {{eqderivprov|Final Price}} are so provided, an amount for the {{eqderivprov|Basket}} <br>equal to the sum of the values for the {{eqderivprov|Shares}} of each {{eqderivprov|Issuer}} as the product of (i) the {{eqderivprov|Relevant Price}} of <br>such {{eqderivprov|Share}} and (ii) the relevant {{eqderivprov|Number of Shares}} comprised in the {{eqderivprov|Basket}}. <br>