UNIT VALUE AT MATURITY Clause Samples

UNIT VALUE AT MATURITY. For each Cycle, We determine its Unit Value as of its Maturity Date based on the change in the Index Value, the Performance Ceiling Rate, and the Maturity Date Floor Rate. As of the Maturity Date, We compute the Maturity Date Preliminary Unit Value. The Maturity Date Unit Value will equal the Maturity Date Preliminary Unit Value subject to being no greater than the Maturity Date Unit Value Ceiling and being no less than the Maturity Date Unit Value Floor. A. CHANGE IN THE INDEX VALUE The change in Index Value equals: 1) The last reported value of the Index on the Maturity Date, minus the last reported value of the Index on the Start Date, divided by 2) The last reported value of the Index on the Start Date. B. MATURITY DATE PRELIMINARY UNIT VALUE The Maturity Date's preliminary Unit Value equals 1) The initial Unit Value multiplied by 2) One plus the change in Index Value. C. MATURITY DATE UNIT VALUE CEILING If the preliminary Unit Value is greater than the initial Unit Value, We determine the Maturity Date's Unit Value Ceiling. The Maturity Date's Unit Value Ceiling equals (i) the initial Unit Value multiplied by (ii) one plus the Performance Ceiling Rate. D. MATURITY DATE UNIT VALUE FLOOR If the preliminary Unit Value is less than the initial Unit Value, We determine the Maturity Date's Unit Value Floor. The Maturity Date Unit Value Floor equals the initial Unit Value multiplied by one plus the Maturity Date Floor Rate.