Examples of Initial Level in a sentence
Determine the Index Return by recording the percentage change between the Closing Level of the Index on the Pricing Date (the Initial Level) and on the Final Valuation Date (the Final Level).2.
Trigger Barrier means each of the Trigger Barriers for the relevantTrigger Observation Date specified in Table B.2expressed as a percentage of the Initial Level.
Upon such replacement (a “Replacement Event”), the Replacement Index shall be deemed to be the Index for purposes of determining the Variable Return and Bank of Montreal shall, as soon as practicable after such Replacement Event, make adjustments to the Initial Level, or any other component or variable relevant to the determination of any amounts payable in respect of the Deposit Notes.
At maturity (or on each instalment date, as applicable) the return on the Notes will be determined by the change in the level of the RPI or such other single inflation index as may be specified in the applicable Pricing Supplement, or between (i) a specified month prior to the issue date of the Notes (the ("Initial Level"), and (ii) a specified month prior to the maturity date (or relevant instalment date, as applicable) of the Notes (the "Final Level").
If at maturity (or on a particular instalment date, as applicable) the Final Level is less than the Initial Level, the return on the Notes will be reduced in proportion with the decline of the RPI or such other single inflation index as may be specified in the applicable Pricing Supplement, (known as the "downside").