{"component": "definition", "props": {"groups": [{"snippet": "means the shares of common stock of leading Canadian, U.S., European and Japanese entities, as described in this Information Statement under \u201cReference Basket\u201d.", "snippet_links": [{"key": "shares-of-common-stock", "type": "clause", "offset": [10, 32]}, {"key": "statement-under", "type": "clause", "offset": [125, 140]}], "samples": [{"hash": "kKboIbSP9YY", "uri": "https://bncsolutionsstructurees.ca/_afficheDocument.aspx?doc=00746_EN_INFORMATION_STATEMENT.pdf&secur=0&rnd=0.7747401", "label": "bncsolutionsstructurees.ca", "score": 10.9890485969, "published": false}, {"hash": "2FC2qd0PDRD", "uri": "https://nbcstructuredsolutions.ca/_afficheDocument.aspx?doc=00784_EN_INFORMATION_STATEMENT.pdf&secur=0&rnd=0.2981654", "label": "nbcstructuredsolutions.ca", "score": 10.909650924, "published": false}, {"hash": "cLYifWIgBtZ", "uri": 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"definition": {"snippet": "means the shares of common stock of leading Canadian, U.S., European and Japanese entities, as described in this Information Statement under \u201cReference Basket\u201d.", "size": 28, "title": "Reference Basket", "id": "reference-basket", "examples": ["The Investment Manager may determine to seek the objective of the Portfolio through direct investment in the securities and instruments, including for the avoidance of doubt, the financial derivative instruments, described in detail in the description of the <strong>Reference Basket</strong> above where it believes that this is in the best interests of the Portfolio and the Shareholders as a whole.", "Reflecting these developments, the average monthly price of the OPEC <strong>Reference Basket</strong> (which is a notional blend of crudes from around the world), which was U.S.$65.10 in January 2020, fell to U.S.$33.92 in March 2020 and U.S.$17.66 in April 2020.", "The <strong>Reference Basket</strong> is a notional portfolio representative of an actual portfolio of investments which would be made by the Investment Manager in implementing its long/short investment strategy.", "The Portfolio will initially seek to achieve its objective principally through entering into one or more total return swaps (the \u201cSwap\u201d) linked to the performance of the <strong>Reference Basket</strong>.", "Since then, the average monthly prices of the OPEC <strong>Reference Basket</strong> began to recover leading to an average annual OPEC <strong>Reference Basket</strong> price in 2020 of U.S.$41.47 and most recently in March 2021 of U.S.$61.74, and thereby moving closer to the average annual prices of the OPEC <strong>Reference Basket</strong> of U.S.$69.78 in 2018 and U.S.$64.04 in 2019.", "Further detail in respect of the <strong>Reference Basket</strong> is set out hereunder.", "The objective of the <strong>Reference Basket</strong> is to provide investors with positive returns.", "The Portfolio\u2019s investment policy will be to achieve these returns through: (a) entering into one or more total return swaps linked to the performance of the <strong>Reference Basket</strong>; and/or (b) direct investment in the securities and instruments set out in the description of the <strong>Reference Basket</strong> below.", "For the avoidance of doubt, the exposure of the Portfolio to eligible collective investment schemes, by investing directly and/or through the Swap (where the <strong>Reference Basket</strong> includes collective investments schemes) may not exceed, in aggregate, 10% of the Net Asset Value of the Portfolio.", "As a result of the above factors, the OPEC <strong>Reference Basket</strong> prices fell significantly from U.S.$48.35 per barrel on 6 March 2020 to U.S.$34.72 per barrel on 9 March 2020 and to an 18-year low of U.S.$17.64 per barrel in April 2020."], "related": [["screen-rate", "Screen Rate", "Screen Rate"], ["market-disruption-rate", "Market 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