Average Basket Level definition

Average Basket Level means, in respect of any time, the level of the Basket calculated by the Calculation Agent on the basis of the average levels of the respective Basket Components at such time in accordance with the Weighting specified in the applicable Final Terms for each such respective Basket Component.

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Average Basket Level or "Worst Performer of Basket" is specified as the applicable Reference Level in the applicable Final Terms and "Common Scheduled Trading Days" is specified therein as "Applicable", if the Calculation Agent determines that any Scheduled Reference Date is a Disrupted Day, then: (1) the Reference Date for each Basket Component in respect of which the Scheduled Reference Date is not a Disrupted Day shall be the Scheduled Reference Date for such Basket Component; and (2) the Reference Date for each Basket Component in respect of which the Scheduled Reference Date is a Disrupted Day (each, an "Affected Basket Component") shall be the earlier of (A) the first succeeding Scheduled Trading Day following the relevant Scheduled Reference Date that is not a Disrupted Day in respect of such Affected Basket Component and (B) the Reference Cut-Off Date for such Affected Bas- ket Component (notwithstanding that such day may not be a Common Scheduled Trading Day).

Average Basket Level or "Worst Performer of Basket" is specified as the applicable Reference Level in the applicable Final Terms and "Common Scheduled Trading Days" and "Common Disrupted Days" shall both be "Applicable" are both specified therein as "Applicable", if the Calculation Agent determines that any Scheduled Reference Date is a Disrupted Day, then the Reference Date for each Basket Component shall be the earlier of (i) the first Common Scheduled Trading Day following the Scheduled Reference Date that is not a Disrupted Day for any Basket Component and (ii) the Reference Cut-Off Date (notwithstanding that such day may not be a Common Scheduled Trading Day).

Examples of Average Basket Level in a sentence

The Reference Level is the Single Reference Asset Level, the Average Basket Level or the Worst Performer of Basket.
These three types of reference levels are referred to as "Single Reference Asset Level", "Average Basket Level" or "Worst Performer of Basket" respectively.

More Definitions of Average Basket Level

Average Basket Level means, except as set forth in the next sentence, the arithmetic average of the Closing Levels of the Basket on the last Trading Day of each of the sixty-three months starting from and including July 2003 and ending at and including September 2008. If the Calculation Agent determines that one or more Market Disruption Events have occurred with respect to any Common Stock included in the Basket on any of these dates, the Calculation Agent will determine the Closing Level for such date by reference to the Closing Level of the Basket on the next Trading Day on which there is not a Market Disruption Event; provided, however, that if a Market Disruption Event occurs on the last Trading Day of September 2008 and the next Trading Day on which there is not a Market Disruption Event has not occurred on or prior to October 3, 2008, the Calculation Agent will make a good faith estimate in its sole discretion of the Closing Level of the Basket on October 3, 2008 or, if October 3, 2008 is not a Trading Day, the first Trading Day preceding October 3, 2008, that would have prevailed in the absence of the Market Disruption Event and that good faith estimate will be the Closing Level of the Basket for September 2008.

Average Basket Level means, except as set forth in the next sentence, the arithmetic average of the Closing Levels of the Basket on the last Trading Day of each of the 73 months after February 2003, starting from and including March 2003 and ending at and including March 2009. If the Calculation Agent determines that one or more Market Disruption Events have occurred with respect to any Common Stock included in the Basket on any of these dates, the Calculation Agent will determine the Closing Level for such date by reference to the Closing Level of the Basket on the next Trading Day on which there is not a Market Disruption Event; provided, however, that if a Market Disruption Event occurs on the last Trading Day of March 2009 and the next Trading Day on which there is not a Market Disruption Event has not occurred on or prior to April 10, 2009, the Calculation Agent will determine the Average Basket Level without including a Closing Level for March 2009 and the Average Basket Level will be based on the Closing Levels on 72 monthly dates.

Average Basket Level or "Worst Performer of Basket" is specified as the applica- ble Reference Level in the applicable Final Terms and "Common Scheduled Trading Days" is specified therein as "Not Applicable": a Scheduled Trading Day in respect of such Index or Share and otherwise the Observation Date shall be the immediately following Scheduled Trading Day; or

Related to Average Basket Level

Average value means the value which best represents the amount of the nutrient which a given food contains, and reflects allowances for seasonal variability, patterns of consumption and other factors which may cause the actual value to vary.
Average VWAP means the average of the VWAPs for each Trading Day in the relevant period.
Maximum Index Level means, in respect of a series of bear CBBCs, the highest Spot Level of the Index during the MCE Valuation Period;
Index Level means, in respect of any day and subject to Adjustment Provisions: (a) in respect of an Index (other than a Multiple Exchange Index), the closing level of such Index at the Valuation Time on such day; and (b) in respect of an Index that is a Multiple Exchange Index, the official closing level of the Index on such day at the Valuation Time as calculated and published by the Index Sponsor each as rounded up to four decimal places (with 0.00005 being rounded up), all as determined by the Calculation Agent.
Minimum Index Level means, in respect of a series of bull CBBCs, the lowest Spot Level of the Index during the MCE Valuation Period.