Template:Nutshell Equity Derivatives 9.5
9.5. “Number of Shares to be Delivered” is calculated as follows:
- (a) Share Option Transactions: For an Exercise Date, number of exercised Options x Option Entitlement;
- (b) Share Forward Transactions where “Variable Obligation” does not apply: the Number of Shares;
- (c) Share Forward Transactions where “Variable Obligation” applies:
- (i) if Settlement Price ≤ {{eqderivprov|Forward Floor Price}: Number of Shares.
- (ii) if Forward Floor Price < Settlement Price ≤ Forward Cap Price: (Foward Floor Price/Equity Derivatives) x Number of Shares; and
- (iii) if Settlement Price > Forward Cap Price: ((Forward Floor Price + Settlement Price - Forward Cap Price)/Settlement Price) x Number of Shares
- (i) if Settlement Price ≤ {{eqderivprov|Forward Floor Price}: Number of Shares.
- (d) Share Swap Transactions: Number of Shares.
- If the Number of Shares to be Delivered comprises any fraction of a Share, it will be rounded down to an integral number of Shares and a Fractional Share Amount will be payable in lieu of the fraction.