BWAF definition
BWAF is the Income 10 Buy-Write Adjustment Factor. The notional income (“NI”) for an Underlying Stock will generally be calculated in accordance with the following formula, except in the circumstances described below: NI = PCR * [ AD + CP * (AATY – HADY) ]
BWAF is the sum of the Buy-Write Index Adjustment Factor (as described below) removed from CTNI on each calendar day for that monthly calculation period through and including that Index Business Day. The value of the Buy-Write Index on any day that is not an Index Business Day will equal the value of the Buy-Write Index on the previous day minus the Buy-Write Index Adjustment Factor for that day. The notional income (“NI”) for the Buy-Write Index on each Index Business Day during each calculation period will be calculated in accordance with the following formula, except in the circumstances described below:
BWAF is the sum of the Buy-Write Index Adjustment Factor (as described below) removed from CTNI on each calendar day for that monthly calculation period through and including that Index Business Day. The value of the Buy-Write Index on any day that is not an Index Business Day will equal the value of the Buy-Write Index on the previous day minus the Buy-Write Index Adjustment Factor for that day. The notional income (“NI”) for the Buy-Write Index on each Index Business Day during each calculation period will be calculated in accordance with the following formula, except in the circumstances described below: “PCR” is the Portfolio Composition Ratio of the S&P 500 Index Portfolio, or the number of the S&P 500 Index Portfolio units to be included in the Buy-Write Index on each Index Business Day subject to adjustments.
More Definitions of BWAF
BWAF is the sum of the REIT Buy-Write Adjustment Factor (as described below) removed from CTNI on each calendar day for that quarterly calculation period through and including that Index Business Day. The value of the REIT Buy-Write Index on any day that is not an Index Business Day will equal the value of the REIT Buy-Write Index on the previous day minus the REIT Buy-Write Adjustment Factor for that day. The notional income (“NI”) for each Underlying Stock in the 2005-1 REIT Portfolio on each Index Business Day during each calculation period will generally be calculated in accordance with the following formula: