Examples of Starting Level in a sentence
If the Index Sponsor discontinues publication of the Index and the Index Sponsor or any other person or entity publishes a substitute index that the Calculation Agent determines is comparable to the Index and approves as a Successor Index, then the Calculation Agent, in its sole discretion, may determine the Index Starting Level, the Index Ending Level or the amount payable on the Stated Maturity Date by reference to such Successor Index.
If the Ending Level as of the Relevant Measurement Date (as described in the preceding sentence) is below the Starting Level, the Up-MACRO Holding Trust will pay the Up-MACRO Settlement Payment to the Down-MACRO Holding Trust on such Settlement Payment Date.
There will be no Final Coupon payable if the performance of the Reference Asset Ending Level is the same or less than Reference Asset Starting Level.
Investors should also note that even if the Reference Asset is above the Reference Asset Starting Level, if there is an Early Maturity Event no Final Coupon will be payable.
Starting Level: The Starting Level will be as specified in the Up-MACRO Holding Trust Agreement and the Down-MACRO Trust Agreement.