Underlying Reference Level definition

Underlying Reference Level means the official level of the Undelying Reference published by the Observation Price Source. "Observation Price Source" means Reuters screen page / Bloomberg screen page.
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Underlying Reference Level means, in respect of any Automatic Early Redemption Valuation Date, (i) "official level", "official close", "last price", "bid price" or "asked price" of the Underlying Reference, as specified in the applicable Final Terms published by the Observation Price Source or (ii) if Standard Underlying Reference Level is specified as applicable in the applicable Final Terms, (a) in the case of Share Securities, ETI Securities and Futures Securities, the price of the relevant Underlying Reference, (b) in the case of Index Securities and Custom Index Securities, the level of the relevant Underlying Reference, (c) in the caseof Commodity Securities, the Relevant Price, (d) in the case of Currency Securities, the spot rate of exchange for the exchange of the Subject Currency into the Base Currency (expressed as the number of units (or part units) of such Subject Currency for which one unit of the Base Currency can be exchanged), (e) in the case of an Inflation Index, the Relevant Level, (f) in the case of an Underlying Interest Rate, the Underlying Reference Rate, (g) if FI Underlying Automatic Early Redemption is specified as applicable in the applicable Final Terms and Multiple Underlying Interest Rate is specified as applicable, Multiple Underlying Reference Rate Value, in each case, as determined by the Calculation Agent as of the Automatic Early Redemption Valuation Time on such Automatic Early Redemption Valuation Date or, in the case of the "official close" level, at such time on such Automatic Early Redemption Valuation Date as the "official close" level is published by the Observation Price Source;
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Underlying Reference Level means, in respect of a Business Day and a particular Underlying Fund, the official net asset value of the Fund Interest Units as calculated and published by the administrator (or other relevant entity) of that Underlying Fund in respect of that Business Day. Notwithstanding the foregoing, if the Index Calculation Agent determines that a Relevant Investor redeeming Fund Interest Units in the Underlying Fund on the basis of such date and such official net asset value would not have received the full proceeds of such redemption by the time that an investor would be scheduled, according to the Fund Documents of the Underlying Fund, to receive such sums (without giving effect to any gating, deferral, suspension or other provisions permitting that Underlying Fund to delay or refuse redemption of Fund Interest Units), the Index Calculation Agent may (but is not obliged to) make such adjustments as it deems appropriate to the Underlying Reference Level for such date to reflect the same, which may include (without
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Examples of Underlying Reference Level in a sentence

  • Automatic Early Redemption Valuation Time:Not applicable(j) Observation Price Source: The "Screen Page" specified in item 26(a)(k) Underlying Reference Level 1: Official close(l) Underlying Reference Level 2: Not applicable(m) SPS AER Valuation: Applicable: SPS AER Value 1: Worst Value Strike Price Closing Value: Applicable Where:Automatic Early Redemption Valuation Date means each date specified as an Automatic Early Redemption Valuation Daten in the table in item 44(h).

  • Description of the PayoutIf the Underlying Reference Level has never been less than or equal to the Barrier Level during the Observation Period, the Payout will be equal to the Bonus Level (divided by the Exchange Rate and Parity).

  • Where:- Barrier Level, Bonus Level and Cap Level: as set out in "Specific Provisions for each Series" above.- Underlying Reference Level: official level.- Observation Price Source: Exchange.Aggregation: Not applicable.

  • If the Underlying Reference Level has at any time been less than or equal to the Lower Level and if the Settlement Price of the Underlying Reference on the Valuation Date is greater than the Lower Level, the Payout will equal the Settlement Price of the Underlying Reference on the Valuation Date less the Lower Level, subject to a cap of the Upper Level less the Lower Level (divided by the product of the Exchange Rate and Parity).

  • Automatic Early Redemption Valuation Time:Not applicable(j) Observation Price Source:Index Sponsor as specified in item 25(a)(k) Underlying Reference Level 1:Official close(l) Underlying Reference Level 2:Not applicable(m) SPS AER Valuation:Applicable: SPS AER Value 1: Underlying Reference Value Strike Price Minimum Value: Applicable Where:Automatic Early Redemption Valuation Date means each date specified as an Automatic Early Redemption Valuation Daten in the table in item 44(f).

  • Automatic Early Redemption Valuation Time:Not applicable(j) Observation Price Source: Index Sponsor as specified in item 25(a)(k) Underlying Reference Level 1: Official close(l) Underlying Reference Level 2: Not applicable(m) SPS AER Valuation: Applicable: SPS AER Value 1: Underlying Reference Value Strike Price Closing Value: Applicable Where: Automatic Early Redemption Valuation Date means each date specified as an Automatic Early Redemption Valuation Daten in the table in item 44(f).

  • Observation Price Source:The "Screen Page" as specified in item 26(a)(k) Underlying Reference Level 1:Official close(l) Underlying Reference Level 2:Not applicable(m) SPS AER Valuation:Applicable: SPS AER Value 1: Underlying Reference ValueStrike Price Closing Value: Applicable Where: Automatic Early Redemption Valuation Date means each date specified as an Automatic Early Redemption Valuation Daten in the table in item 44(h).

  • Underlying Reference Level Not applicable SPS AER Valuation: Applicable SPS AER Value means the Worst Value;Worst Value means, in respect of a SPS Valuation Date, the lowest Underlying Reference Value for any Underlying Reference in the Basket in respect of such SPS Valuation Date.

  • Automatic Early Redemption Valuation Time:Not applicable(j) Observation Price Source: Index Sponsor as specified in item 25(a)(k) Underlying Reference Level 1: Official close(l) Underlying Reference Level 2: Not applicable(m) SPS AER Valuation: Applicable: SPS AER Value 1: Underlying Reference Value Strike Price Closing Value: Applicable Where:Automatic Early Redemption Valuation Date means each date specified as an Automatic Early Redemption Valuation Daten in the table in item 44(h).

  • Underlying Reference Level: Single Standard Automatic Early Redemption ”greater than or equal to”SPS Automatic Early Redemption PayoutNA x (AER Redemption Percentage + AER Exit Rate) "AER Redemption Percentage" is 100 per cent.29 January 2024 (n = 1), 29 January 2025 (n = 2) and 29 January2026 (n = 3).Not applicable.Not applicable.SPS AER Valuation: Applicable.


More Definitions of Underlying Reference Level

Underlying Reference Level means the official level of the Undelying Reference published by the Observation Price Source.
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Related to Underlying Reference Level

  • Underlying Reference Value means, in respect of an Underlying Reference and a SPS Valuation Date, (i) the Underlying Reference Closing Price Value for such Underlying Reference in respect of such SPS Valuation Date (ii) divided by the relevant Underlying Reference Strike Price.

  • Underlying Reference Strike Price means, in respect of an Underlying Reference, the Underlying Reference Closing Price Value for such Underlying Reference on the Strike Date.

  • Reference Level means the level of the Index (excluding any flash estimates) published or announced by Eurostat (or any successor entity which publishes such index) in respect of the month that is 12 calendar months prior to the month referred to in “Latest Level” above.

  • Underlying Reference means as set out in §25(a) below.

  • Fallback Reference Price (if the relevant parties have specified an alternate Commodity Reference Price in the Confirmation);

  • CPI Daily Inflation Reference Index means (A) in relation to the first day of any given month, the CPI Monthly Reference Index of the third month preceding such month, and (B) in relation to a day (D) (other than the first day) in any given month (M), the linear interpolation of the CPI Monthly Reference Index pertaining respectively to the third month preceding such month (M - 3) and the second month preceding such month (M - 2) calculated in accordance with the following formula:

  • Relevant Reference Price means the Reference Price on the Final Valuation Date. "Security Holder" means the holder of a Security.

  • HICP Daily Inflation Reference Index means (A) in relation to the first day of any given month, the HICP Monthly Reference Index of the third month preceding such month, and (B) in relation to a day (D) (other than the first day) in any given month (M), the linear interpolation of the HICP Monthly Reference Index pertaining respectively to the third month preceding such month (M - 3) and the second month preceding such month (M - 2) calculated in accordance with the following formula:

  • Underlying Reference Closing Price Value means, in respect of a SPS Valuation Date, the Closing Level in respect of such day.

  • Reset Reference Rate means in respect of a Reset Period, the gross redemption yield (as calculated by the Agent Bank on the basis set out by the United Kingdom Debt Management Office in the paper “Formulae for Calculating Gilt Prices from Yields”, page 5, Section One: Price/Yield Formulae “Conventional Gilts”; Double dated and Undated Gilts with Assumed (or Actual) Redemption on a Quasi-Coupon Date (published 8 June 1998, as amended or updated from time to time) or if such basis is no longer in customary market usage at such time, in accordance with generally accepted market practice at such time, on a semi-annual compounding basis (rounded up (if necessary) to four decimal places) of the Benchmark Gilt in respect of that Reset Period, with the price of the Benchmark Gilt for the purpose of determining the gross redemption yield being the arithmetic average (rounded up (if necessary) to the nearest 0.001 per cent. (0.0005 per cent. being rounded upwards)) of the bid and offered prices of such Benchmark Gilt quoted by the Reset Reference Banks at 11.00 a.m. (London time) on the Reset Determination Date in respect of such Reset Period on a dealing basis for settlement on the next following dealing day in London. Such quotations shall be obtained by or on behalf of the Issuer and provided to the Agent Bank. If at least four quotations are provided, the Reset Reference Rate will be determined by reference to the rounded arithmetic mean of the quotations provided, eliminating the highest quotation (or, in the event of equality, one of the highest) and the lowest quotation (or, in the event of equality, one of the lowest). If only two or three quotations are provided, the Reset Reference Rate will be determined by reference to the rounded arithmetic mean of the quotations provided. If only one quotation is provided, the Reset Reference Rate will be determined by reference to the rounded quotation provided. If no quotations are provided, the Reset Reference Rate will be the previous Reset Reference Rate or (in the case of the first Reset Period) 1.581 per cent., where:

  • Base Level means, in respect of an Inflation Index, the level of such Inflation Index (excluding any "flash" estimates) published or announced by the relevant Inflation Index Sponsor in respect of the month which is 12 calendar months prior to the month for which the Substitute Index Level is being determined.

  • Index Level means, in respect of any day and subject to Adjustment Provisions: (a) in respect of an Index(other than a Multiple Exchange Index), the closing level of such Indexat the Valuation Time on such day; and (b) in respect of an Index that is a Multiple Exchange Index, the official closing level of the Index on such day at the Valuation Time as calculated and published by the Index Sponsor each as rounded up to four decimal places (with 0.00005 being rounded up), allas determined by the Calculation Agent.

  • Compounded Daily Reference Rate means, with respect to an Interest Period, the rate of return of a daily compound interest investment in the Specified Currency (with the applicable Reference Rate (as indicated in the applicable Final Terms and further provided for below) as the reference rate for the calculation of interest) and will be calculated by the Principal Paying Agent on the relevant Interest Determination Date, as follows, and the resulting percentage will be rounded, if necessary, to the Relevant Decimal Place:

  • Strike Level means the Strike Level as specified in § 1 of the Product and Underlying Data.

  • Final Reference Price means an amount (which shall be deemed to be a monetary value in the Underlying Currency) equal to the level of the Index at the Valuation Time on the Valuation Date or the Issuer Call Date, as the case may be, as determined by or on behalf of the Calculation Agent without regard to any subsequently published correction or (if, in the determination of the Calculation Agent, no such level can be determined and no Market Disruption Event has occurred and is continuing) an amount determined by the Calculation Agent as its good faith estimate of the level of the Index on such date having regard to the then prevailing market conditions, the last reported trading price of the Shares and such other factors as the Calculation Agent determines relevant;