VWAP Level definition
VWAP Level means, on any index business day, as calculated by the VWAP calculation agent, the sum of the products of (i) the VWAP of each Index Constituent as of such date and (ii) the number of units of that Index Constituent as of such date published by the Index Sponsor. The VWAP level is reported on Bloomberg page “BXVWATMP <Index>.”
VWAP Level means, as of any date of determination and with respect to the Index, the quotient of (1) the arithmetic mean of the sum for each Index Component of the products of (i) the volume weighted-average price of that Index Component as of such date and (ii) the published share weighting of that Index Component as of such date, divided by (2) the Index Divisor as of such date, as determined by the Calculation Agent.
VWAP Level or“VWAPLeveli,k” means, in respect of a Rebalancing Dayk and a Constituenti which is a Share listed on an Eligible Exchange not located in Asia:(i) the volume weighted average price of such Share using the Bloomberg function EQY_WEIGHTED_AVG_PX and selecting as input the composite Constituent Bloomberg Ticker and selecting the VWAP Period on the Exchange on the relevant day, starting from the VWAP Start Time and ending on the VWAP End Time; multiplied by(ii) 100.15% if the Proposed Constituent Weight in respect of such Proposed Constituent and such Rebalancing Day is greater than the Constituent Weight in respect of the immediately preceding Rebalancing Day; or(iii) 99.85% if the Proposed Constituent Weight in respect of such Proposed Constituent and such Rebalancing Day is less than the Constituent Weight in respect of the immediately preceding Rebalancing Day;provided that, upon the occurrence of a Data Unavailability Event in respect of a Rebalancing Dayk and a Constituenti which is a Share, the Strategy Calculation Agent shall determine its good faith estimate of the VWAP Level in respect of such Share on such Rebalancing Day and/or make such adjustment(s) if any, to one or more of any variable, Constituent (including the Eligible Index), calculation or terms relevant to the Strategy acting in good faith using suchinformation and/or methods as it determines, in its reasonable discretion, areappropriate.