Basket Indices definition
Examples of Basket Indices in a sentence
If the publication of any of the Basket Indices is discontinued and a successor or substitute index is published that the Calculation Agent determines, in its sole discretion, is comparable to the discontinued Basket Index (the new index being referred to as a “Successor Index”), then the relevant closing levels of the applicable Basket Index will be determined by reference to the closing level of the Successor Index.
If the publication of any of the Basket Indices is discontinued and a successor or substitute index is published that the Calculation Agent determines, in its sole discretion, is comparable to the discontinued Basket Index (the new index being referred to as a "Successor Index"), then the relevant closing levels of the applicable Basket Index will be determined by reference to the closing level of the Successor Index.
The Basket consists of the "Basket Indices," which are the two stock indices.
If the publication of any of the Basket Indices is discontinued and a successor or substitute index is published that the Calculation Agent determines, in its sole discretion, is comparable to the discontinued Basket Index (the new index being referred to as a "Successor Index"), then the relevant closing levels will be determined by reference to the closing level of the Successor Index.
If the valuation date falls on a day that is not a trading day as to one or more Basket Indices, then the valuation date will be postponed to the first trading day thereafter, solely as to the applicable Basket Index or Basket Indices.
The Basket Indices are the (a) Dow ▇▇▇▇▇ Industrial AverageSM, (b) Standard and Poor's MidCap 400 Index, (c) Standard and Poor's SmallCap 600 Index, (d) Dow ▇▇▇▇▇ EURO STOXX 50® Index, and (e) Nikkei 225 Index.
The "Index Basket" is a hypothetical investment which employs a "covered call" strategy in which (i) a hypothetical investment in each of the indices in the Index Basket is purchased, (ii) the hypothetical investment in the Commodity Index is fully collateralized with hypothetical three-month U.S. government obligations and (iii) hypothetical call options on the Basket Indices are sold on a quarterly basis for a three month term.
If the determination of the closing level of one or more Basket Indices is postponed due to a Market Disruption Event on the last scheduled Reset Date, the maturity date for the notes also will be postponed by the same number of business days.
If the Calculation Agent determines that, on any Reset Date, a Market Disruption Event has occurred or is continuing as to one or more Basket Indices, the determination of the closing level of the applicable Basket Index or Indices will be postponed until the first trading day on which no Market Disruption Event occurs or is continuing, but the delay will never be more than five business days.
If the publication of either of the Basket Indices is discontinued and a successor or substitute index is published that the Calculation Agent determines, in its sole discretion, is comparable to the discontinued Basket Index (the new index being referred to as a "Successor Index"), then the relevant closing levels of the applicable Basket Index will be determined by reference to the closing level of the Successor Index.