Closing Indicative Value definition
Closing Indicative Value means the value calculated and published on each Trading Day at http://www.ubs.com/e-tracs by the Company or an affiliate based on the following equation:
Closing Indicative Value means, as determined by the Security Calculation Agent, the Current Indicative Value calculated as at the close of business on an Index Business Day.
Closing Indicative Value per Security on any calendar day shall be calculated in the following manner: The Closing Indicative Value per Security on the Inception Date will equal $50. On each subsequent calendar day until maturity, or Early Redemption, the Closing Indicative Value per Security will equal (1) the Closing Indicative Value on the immediately preceding calendar day times (2) the applicable Daily Index Factor on such calendar day (or, if such day is not an Index Business Day, one) minus (3) the applicable Investor Fee on such calendar day minus (4) the applicable Futures Execution Cost on such calendar day.
Examples of Closing Indicative Value in a sentence
On the Maturity Date, the Company shall redeem this Security by paying to the Holder a cash payment equal to the Closing Indicative Value of the Securities on the Final Valuation Date.
If the Company redeems the Securities, the Holder will receive a cash payment in U.S. dollars per Security in an amount equal to the applicable Closing Indicative Value on the applicable Valuation Date.