Common use of PRICING PROCEDURES Clause in Contracts

PRICING PROCEDURES. The Fund has established a set of calculations to be used as a threshold (a “Trigger”) to determine when Fair Value Pricing Adjustments should be utilized. BNY Mellon will perform the following Trigger calculations: 1) the percentage change in a specified index (e.g., for triggers measured by the Tokyo-to-U.S. close, use the S&P futures index due next to expire, except that 2 business days before the nearest future is due to expire, move to the next future index; for triggers measured by the London-to U.S. close, use the S&P index) during a specified time period (e.g., the close of the London exchange (11:30 am ET) or the Tokyo exchange (1:00 am ET) and close of the U.S. markets (4:00 pm ET)) (the “Calculated Change”); and 2) whether the Calculated Change is equal to or greater than a specified basis point figure (in absolute value without rounding). When the Trigger has been met, the Fund hereby directs BNY Mellon to request from the Pricing Vendor those Fair Value Price Adjustments that have met the specified confidence level. In order for BNY Mellon to perform the Trigger calculations and request the appropriate Fair Value Adjustments, the Fund shall specify to BNY Mellon in writing each of the following variables: 1) indices to be used; 2) time period on which to measure the Calculated Change;