Reference Asset Level definition
Reference Asset Level means, on any day, for any of the Reference Indices, the closing level thereof as published and/or reported by the applicable Price Source and for any of the Reference Funds, the official closing price of the
Reference Asset Level means, on any day, for any of the Reference Indices, the closing level thereof as published and/or reported by the applicable Price Source and for any of the Reference Funds, the official closing price of the Reference Units thereof on the Exchange, as published and/or reported by the applicable Price Source, in the base currency in which the Reference Assets are calculated, as determined by the Calculation Agent. If such date (i) is not a Trading Day for any of the remaining Reference Asset, the closing level or the closing price on the first following day that is a Trading Day for each remaining Reference Asset will be used for each remaining Reference Asset or
Reference Asset Level means the Official Level of the Reference Asset on each Observation Date;
Examples of Reference Asset Level in a sentence
The Reference Level is the Single Reference Asset Level, the Average Basket Level or the Worst Performer of Basket.
These three types of reference levels are referred to as "Single Reference Asset Level", "Average Basket Level" or "Worst Performer of Basket" respectively.
More Definitions of Reference Asset Level
Reference Asset Level means, on any day, for any of the Reference Indices, the closing level thereof as published and/or reported by the applicable Price Source and for any of the Reference Funds, the official closing price of the Reference Units thereof on the Exchange, as published and/or reported by the applicable Price Source, in the base currency in which the Reference Assets are calculated, as determined by the Calculation Agent. If such date is not a Trading Day or if there is a Market Disruption Event in respect of a relevant Reference Asset, the closing level or the closing price or level of such Reference Asset (and not of the other unaffected Reference Assets) on the first following day that is a Trading Day or the first Trading Day on which a Market Disruption Event has ceased will be used. If such a Market Disruption Event should last more than 5 days, or if there is no Trading Day after 5 days, the closing level or the closing price of the relevant Reference Asset will be determined by the Calculation Agent acting in good faith reasonably taking into account all relevant market considerations. On any day, the Reference Asset Level for the Reference Currency will be the “noon rate” of the Bank of Canada expressed as the number of Canadian dollars for each $1 USD. The Bank of Canada exchange rates are nominal quotations — not buying or selling rates — and are intended for statistical or analytical purposes. Rates available from financial institutions will differ. The noon rates are obtained from market or official sources around noon and are updated at about 1 p.m. ET the same business day.