Template:Nutshell Equity Derivatives 11.3: Difference between revisions

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Section {{eqderivprov|11.3}}. '''{{eqderivprov|Adjustments to Certain Share Transactions and Share Basket Transactions in European Currencies}}'''. In respect of a {{eqderivprov|Share Transaction}} or {{eqderivprov|Share Basket Transaction}} relating to {{eqderivprov|Shares}} originally quoted, listed [[and/or]] dealt as of the {{eqderivprov|Trade Date}} in a currency of a member state of the European Union that has not adopted the single currency in accordance with the {{eqderivprov|EC Treaty}}, if such {{eqderivprov|Shares}} are at any time after the {{eqderivprov|Trade Date}} quoted, listed [[and/or]] dealt exclusively in {{eqderivprov|euro}} on the relevant {{eqderivprov|Exchange}} or, where no {{eqderivprov|Exchange}} is specified, the principal market on which those {{eqderivprov|Shares}} are traded, then the {{eqderivprov|Calculation Agent}} will adjust any [[one or more]] of the {{eqderivprov|Strike Price}}, the {{eqderivprov|Forward Price}}, the {{eqderivprov|Forward Floor Price}}, the {{eqderivprov|Forward Cap Price}}, the {{eqderivprov|Knock-in Price}}, the {{eqderivprov|Knock-out Price}}, the {{eqderivprov|Settlement Price}}, the {{eqderivprov|Initial Price}}, the {{eqderivprov|Final Price}} and any other variable relevant to the terms of the {{eqderivprov|Transaction}} as the {{eqderivprov|Calculation Agent}} determines appropriate to preserve the economic terms of the {{eqderivprov|Transaction}}. The {{eqderivprov|Calculation Agent}} will make any conversion necessary for purposes of any such adjustment as of the {{eqderivprov|Valuation Time}} at an appropriate mid-market spot rate of exchange determined by the {{eqderivprov|Calculation Agent}} prevailing as of the {{eqderivprov|Valuation Time}}. No adjustments under this Section {{eqderivprov|11.3}} will affect the currency denomination of any payment obligation arising out of the {{eqderivprov|Transaction}}. <br>
{{eqderivprov|11.3}}. '''{{eqderivprov|Adjustments to Certain Share Transactions and Share Basket Transactions in European Currencies}}'''. If any {{eqderivprov|Shares}} were quoted in a pre-[[Euro]] currency after the {{eqderivprov|Trade Date}} quoted exclusively in {{eqderivprov|euro}} on the relevant {{eqderivprov|Exchange}} or principal market, the {{eqderivprov|Calculation Agent}} will adjust any variable relevant to the {{eqderivprov|Transaction}} to preserve the economic terms of the {{eqderivprov|Transaction}}. The {{eqderivprov|Calculation Agent}} will make necessary conversions as of the {{eqderivprov|Valuation Time}} at an appropriate mid-market spot rate as at the {{eqderivprov|Valuation Time}}. No adjustments under this Section will affect the denomination of any payment due under the {{eqderivprov|Transaction}}. <br>