Initial Reference Level means, subject to adjustment in accordance with Product Condition 4 and as provided in the definition of "Initial Reference Valuation Date", an amount equal to the Reference Level on the Initial Reference Valuation Date as determined by the Calculation Agent and without regard to any subsequently published correction(s);

Initial Reference Level means as specified in the above table at item 15 (B) (i).

Initial Reference Level means (i) the level of the Index specified in the applicable Final Terms or (ii) determined by the Calculation Agent on the Valuation Time on the Initial Valuation Date specified in the applicable Final Terms.

Examples of Initial Reference Level in a sentence

Product Parameter(s) Trigger Level, Coupon Barrier, Date, Final Redemption Amount, Final Reference Level, Gearing, Initial Reference Level, Premium Knock-Out Barrier, Maximum Redemption Amount, Minimum Redemption Amount, Period, Specified Denomination, Redemption Barrier, Reference Level, Premium Amount, Strike Level, Valuation Time and/or Reference Asset.
If the Final Reference Level is equal to or above the Barrier, the Cash Amount is equal to the higher of the Bonus Amount and the product of (x) the Multiplier and (y) the sum of (xx) the Initial Reference Level, and (yy) the difference between the Final Reference Level and the Initial Reference Level, multiplied with the Participation Factor.
If the Final Reference Level is less than the Initial Reference Level, investors that have bought the Securities at the Issue Date and hold them for their entire term will receive a limited return or no return on their investment.
The participation in the performance of the Underlying is calculated as the product of the Nominal Amount, the Participation Factor and the quotient of (i) the Final Reference Level less the Initial Reference Level, and (ii) the Initial Reference Level.
Industrial Consumers request that the Commission require MISO to revise its Tariff to set the Initial Reference Level to $0/MW-day and exclude opportunity costs from the determination of facility-specific reference levels.

More Definitions of Initial Reference Level

Initial Reference Level means the Index Level on the Reference Date scheduled to fall on the Initial Valuation Date determined in accordance with the Index Provisions Annex.

Initial Reference Level means, in respect of a PRC Property Share Security and a PRC Property Index Security, the price per Reference Underlying or PRC Property Share which is a constituent asset of such Reference Underlying, as applicable (net of Costs), converted into the Specified Currency using the RMB/USD exchange rate prevailing with respect to the settlement date(s) of such Reference Underlyings or PRC Property Shares or hedging arrangements entered into by the Hedge Provider or such other factors as the Calculation Agent shall determine as used by the Calculation Agent as appropriate in computing the amount payable by the Securityholder for the subscription of the Security.

Initial Reference Level means the official closing level of the Underlying on the Strike Date;

Initial Reference Level means as specified in the above table at item 15 (B) (i).Determination Agent determination

Initial Reference Level means in respect of a PRC Property Security and a PRC Property Index Security, the price per Reference Underlying or PRC Property Share which is a constituent asset of the Reference Underlying, as applicable (net of Costs) which the Hedge Provider obtains in buying the Reference Underlyings or PRC Property Shares or entering into any hedging arrangements (which will include any compensation or payment received by the Hedge Provider for or in lieu of the Reference Underlyings or PRC Property Shares or for entering into any relevant hedging arrangements) held directly or indirectly by the Hedge Provider to hedge the Issuer’s obligations in respect of the Securities converted into the Specified Currency using the Exchange Rate prevailing with respect to the settlement date(s) of the Reference Underlying or PRC Property Shares or hedging arrangements entered into by the Hedge Provider or such other factors as the Calculation Agent shall determine, as used by the Calculation Agent in computing the amount payable by the Securityholder for the subscription of the Security.

Initial Reference Level means the relevant option in respect of Initial Reference Level specified in the Term Sheet (if any):