NAV(0) definition
NAV(0) means the NAV of the Underlying as at the first NAV Day immediately following the Series Issue Date;
NAV(0) means the NAV of the Underlying as at the first NAV Day immediately following Series Issue Date;“Marginfactor” means 98% (or such higher percentage as the Issuer may in its absolute discretion determine) provided however that in respect of any redemption occurring following a Risk Capital Default Event (as defined below), the Marginfactor shall be 100%;“NAV Day”: Each day the Underlying Issuer accepts without restrictions subscriptions as well as redemptions in respect of the Underlying Security; and“NAV of the Underlying”: means, in respect of each NAV Day, the price receivable by redeeming the Underlying Security on such NAV Day.The ETI Securities shall not bear any interest.