AVVISO n.2769 21 Febbraio 2007 SeDeX − PLAIN VANILLA
AVVISO n.2769 | 21 Febbraio 2007 | SeDeX − PLAIN VANILLA |
Mittente del comunicato : Borsa Italiana
Societa' oggetto dell'Avviso
: UNICREDITO ITALIANO
Oggetto : Inizio negoziazione Covered Warrant Plain Vanilla "Unicredito Italiano S.p.A." emessi nell'ambito di un programma.
Testo del comunicato
Si veda allegato.
Disposizioni della Borsa
Strumenti finanziari: A)“Covered Warrant su azioni italiane ed estere con scadenza 01.06.2007, 07.09.2007 e 07.12.2007”
B) “Covered Warrant sulle materie prime oro e argento e sul contratto future sul petrolio WTI con scadenza 14.06.2007, 15.06.2007, 21.09.2007 e 15.11.2007”
C) “Covered Warrant sul tasso di cambio eur/usd e
eur/jpy con scadenza 01.06.2007, | 07.09.2007 e | |
07.12.2007” | ||
Emittente: | UniCredito Italiano S.p.A. | |
Rating Emittente: | Società Long di Rating Term | Data Report |
Moody’s A1 | dic 2005 | |
Standard & Poor’s A+ | 26/10/2006 | |
Fitch A+ | 26/10/2006 |
Oggetto: INIZIO NEGOZIAZIONI IN BORSA
Data di inizio negoziazioni: 23 febbraio 2007
Mercato di quotazione: Borsa - Comparto SEDEX, “segmento covered warrant
plain vanilla”
Borsa – Comparto TAH
Orari e modalità di negoziazione: Negoziazione continua e l’orario stabilito dagli artt.
IA.5.1.6 e IA.6.1.9 delle Istruzioni
Operatore incaricato ad
assolvere l’impegno di quotazione: UBM-UniCredit Banca Mobiliare S.p.A.
Codice specialist: 1103
Modalità di liquidazione
dei contratti: liquidazione a contante garantita il terzo giorno di borsa aperta successivo a quello di conclusione dei contratti.
CARATTERISTICHE SALIENTI DEI TITOLI OGGETTO DI QUOTAZIONE
A) “Covered Warrant su azioni italiane ed estere con scadenza 01.06.2007, 07.09.2007 e 07.12.2007”
B) “Covered Warrant sulle materie prime oro e argento e sul contratto future sul petrolio WTI con scadenza 14.06.2007, 15.06.2007, 21.09.2007 e 15.11.2007”
C) “Covered Warrant sul tasso di cambio eur/usd e eur/jpy con scadenza 01.06.2007, 07.09.2007 e 07.12.2007”
Serie in negoziazione: dalla n° 149 alla n° 241 degli strumenti di cui al punto A) e
tutte le serie degli strumenti di cui ai punti B) e C)
Quantitativo minimo di
negoziazione di ciascuna serie: vedasi schede riepilogative delle caratteristiche dei covered
warrant (colonna “Lotto Neg.”) Controvalore minimo dei blocchi: 150.000 Euro
Impegno giornaliero ad esporre prezzi denaro e lettera
per ciascuna serie: vedasi schede riepilogative delle caratteristiche dei covered warrant (colonna “X.Xxxxx M.M.”)
Tipo di liquidazione: monetaria
Modalità di esercizio: americano per gli strumenti di cui ai punti A) e C), europeo
per gli strumenti di cui al punto B)
DISPOSIZIONI DELLA BORSA ITALIANA
Dal giorno 23 febbraio 2007 le serie dalla n° 149 alla n° 241 dei “Covered Warrant su azioni italiane ed estere con scadenza 02.03.2007, 01.06.2007 e 07.09.2007”, i “Covered Warrant sulle materie prime oro e argento e sul contratto future sul petrolio WTI con scadenza 14.06.2007, 15.06.2007, 21.09.2007 e 15.11.2007” e i “Covered Warrant sul tasso di cambio eur/usd e eur/jpy con scadenza 01.06.2007, 07.09.2007 e 07.12.2007” verranno inseriti nel Listino Ufficiale, sezione Securitised Derivatives.
Allegati:
- Schede riepilogative delle caratteristiche dei covered warrant;
- Final Terms dei covered warrant;
- Nota di sintesi e Terms and Conditions dei covered warrant.
Serie Isin Sigla SIA Descrizione Sottostante Facoltà Strike Scad. Multiplo Ammontare Lotto Neg. X.Xxxxx MM
149 | IT0004186307 | UI1346 | 425901 | XX XXXX X0 | XX00 | MONTEPASCHI | Put | 5 | 01/06/2007 | 0,1 | 1000000 | 1000 | 100 |
150 | IT0004186315 | UI1347 | 425902 | UC BMPS C6 | GN07 | MONTEPASCHI | Call | 6 | 01/06/2007 | 0,0 | 0000000 | 0000 | 000 |
151 | IT0004186323 | UI1348 | 425903 | XX XXXX X0,00 | XX00 | MONTEPASCHI | Put | 5,25 | 07/09/2007 | 0,1 | 1000000 | 1000 | 50 |
152 | IT0004186331 | UI1349 | 425904 | UC BMPS C6,25 | ST07 | MONTEPASCHI | Call | 6,25 | 07/09/2007 | 0,1 | 1000000 | 1000 | 300 |
153 | IT0004186349 | UI1350 | 425905 | XX XXXX X0 | XX00 | XXXXXXXXXXX | Xxx | 5 | 07/12/2007 | 0,1 | 1000000 | 1000 | 100 |
154 | IT0004186356 | UI1351 | 425906 | UC BMPS C5 | DC07 | MONTEPASCHI | Call | 5 | 07/12/2007 | 0,0 | 0000000 | 0000 | 00 |
155 | IT0004186364 | UI1352 | 425907 | UC BMPS C6 | DC07 | MONTEPASCHI | Call | 6 | 07/12/2007 | 0,0 | 0000000 | 0000 | 000 |
156 | IT0004186372 | UI1353 | 425908 | XX XX X0,0 | XX00 | PIRELLI & C. | Put | 0,8 | 01/06/2007 | 0,1 | 1000000 | 1000 | 500 |
157 | IT0004186380 | UI1354 | 425909 | XX XX X0,00 | XX00 | PIRELLI & C. | Put | 0,75 | 07/09/2007 | 0,1 | 1000000 | 1000 | 500 |
158 | IT0004186398 | UI1355 | 425910 | XX XX X0,00 | XX00 | PIRELLI & C. | Call | 0,95 | 07/09/2007 | 0,1 | 1000000 | 1000 | 500 |
159 | IT0004186406 | UI1356 | 425911 | XX XX X0,0 | XX00 | PIRELLI & C. | Call | 0,8 | 07/12/2007 | 0,1 | 1000000 | 1000 | 300 |
160 | IT0004186414 | UI1357 | 425912 | XX XX X0,0 | XX00 | PIRELLI & C. | Put | 0,8 | 07/12/2007 | 0,1 | 1000000 | 1000 | 400 |
161 | IT0004186422 | UI1358 | 425913 | XX XX X0,0 | XX00 | PIRELLI & C. | Call | 0,9 | 07/12/2007 | 0,1 | 1000000 | 1000 | 500 |
162 | IT0004186430 | UI1359 | 425914 | UC PC C1 | DC07 | PIRELLI & C. | Call | 1 | 07/12/2007 | 0,0 | 0000000 | 0000 | 000 |
163 | IT0004186448 | UI1360 | 425915 | UC RCS C5 | ST07 | RCS | Call | 5 | 07/09/2007 | 0,0 | 0000000 | 0000 | 000 |
MEDIAGROUP | |||||||||||||
164 | IT0004186455 | UI1361 | 425916 | UC RCS C4 | DC07 | RCS MEDIAGROUP | Call | 4 | 07/12/2007 | 0,0 | 0000000 | 0000 | 00 |
mercoledì 21 febbraio 2007 Pagina 1 di 6
Serie Isin Sigla SIA Descrizione Sottostante Facoltà Strike Scad. Multiplo Ammontare Lotto Neg. X.Xxxxx MM
165 | IT0004186463 | UI1362 | 425917 | UC RCS C5,5 | DC07 | RCS MEDIAGROUP | Call | 5,5 | 07/12/2007 | 0,1 | 1000000 | 1000 | 400 |
166 | IT0004186471 | UI1363 | 425918 | XX XXX X00 | XX00 | XXXXXX | Call | 22 | 01/06/2007 | 0,1 | 1000000 | 1000 | 100 |
167 | IT0004186489 | UI1364 | 425919 | XX XXX X00 | XX00 | XXXXXX | Call | 24 | 01/06/2007 | 0,1 | 1000000 | 1000 | 200 |
168 | IT0004186497 | UI1365 | 425920 | XX XXX X00 | XX00 | XXXXXX | Put | 17 | 07/09/2007 | 0,1 | 1000000 | 1000 | 50 |
169 | IT0004186505 | UI1366 | 425921 | XX XXX X00 | XX00 | XXXXXX | Call | 23 | 07/09/2007 | 0,1 | 1000000 | 1000 | 50 |
170 | IT0004186513 | UI1367 | 425922 | XX XXX X00 | XX00 | XXXXXX | Call | 25 | 07/12/2007 | 0,1 | 1000000 | 1000 | 50 |
171 | IT0004186521 | UI1368 | 425923 | XX XXX X00 | XX00 | XXXXXX | Xxx | 19 | 07/12/2007 | 0,1 | 1000000 | 1000 | 20 |
172 | IT0004186539 | UI1369 | 425924 | XX XXX X00 | XX00 | XXXXXX | Call | 20 | 07/12/2007 | 0,1 | 1000000 | 1000 | 20 |
173 | IT0004186547 | UI1370 | 425925 | XX XXX X00 | XX00 | XXXXXX | Call | 23 | 07/12/2007 | 0,1 | 1000000 | 1000 | 30 |
174 | IT0004186554 | UI1371 | 425926 | XX XXX X0,0 | XX00 | TELECOM ITALIA | Put | 2,2 | 01/06/2007 | 0,1 | 1000000 | 1000 | 300 |
175 | IT0004186562 | UI1372 | 425927 | XX XXX X0,0 | XX00 | TELECOM ITALIA | Call | 2,4 | 01/06/2007 | 0,1 | 1000000 | 1000 | 500 |
176 | IT0004186570 | UI1373 | 425928 | XX XXX X0,0 | XX00 | TELECOM ITALIA | Call | 2,6 | 01/06/2007 | 0,1 | 1000000 | 1000 | 500 |
177 | IT0004186588 | UI1374 | 425929 | UC TIT P2,1 | ST07 | TELECOM ITALIA | Put | 2,1 | 07/09/2007 | 0,1 | 1000000 | 1000 | 300 |
178 | IT0004186596 | UI1375 | 425930 | XX XXX X0,0 | XX00 | TELECOM ITALIA | Call | 2,3 | 07/09/2007 | 0,1 | 1000000 | 1000 | 200 |
179 | IT0004186604 | UI1376 | 425931 | UC TIT P2,3 | ST07 | TELECOM ITALIA | Put | 2,3 | 07/09/2007 | 0,1 | 1000000 | 1000 | 150 |
180 | IT0004186612 | UI1377 | 425932 | XX XXX X0,0 | XX00 | TELECOM ITALIA | Call | 2,5 | 07/09/2007 | 0,1 | 1000000 | 1000 | 400 |
181 | IT0004186620 | UI1378 | 425933 | UC TIT P2 | DC07 | TELECOM ITALIA | Put | 2 | 07/12/2007 | 0,1 | 1000000 | 1000 | 300 |
mercoledì 21 febbraio 2007 Pagina 2 di 6
Serie Isin Sigla SIA Descrizione Sottostante Facoltà Strike Scad. Multiplo Ammontare Lotto Neg. X.Xxxxx MM
182 | IT0004186638 | UI1379 | 425934 | UC TIT P2,2 | DC07 | TELECOM ITALIA | Put | 2,2 | 07/12/2007 | 0,1 | 1000000 | 1000 | 150 |
183 | IT0004186646 | UI1380 | 425935 | UC TIT C2,3 | DC07 | TELECOM ITALIA | Call | 2,3 | 07/12/2007 | 0,1 | 1000000 | 1000 | 150 |
184 | IT0004186653 | UI1381 | 425936 | UC TIT P2,3 | DC07 | TELECOM ITALIA | Put | 2,3 | 07/12/2007 | 0,1 | 1000000 | 1000 | 150 |
185 | IT0004186661 | UI1382 | 425937 | UC TIT C2,5 | DC07 | TELECOM ITALIA | Call | 2,5 | 07/12/2007 | 0,1 | 1000000 | 1000 | 300 |
186 | IT0004186679 | UI1383 | 425938 | UC TIT C2,7 | DC07 | TELECOM ITALIA | Call | 2,7 | 07/12/2007 | 0,1 | 1000000 | 1000 | 500 |
187 | IT0004186687 | UI1384 | 425939 | UC TITR C2 | DC07 | TELECOM ITALIA RISP. | Call | 2 | 07/12/2007 | 0,0 | 0000000 | 0000 | 000 |
188 | IT0004186695 | UI1385 | 425940 | UC TITR C2,3 | DC07 | TELECOM ITALIA RISP. | Call | 2,3 | 07/12/2007 | 0,1 | 1000000 | 1000 | 500 |
189 | IT0004186703 | UI1386 | 425941 | XX XXX X00 | XX00 | TENARIS | Put | 16 | 01/06/2007 | 0,1 | 1000000 | 1000 | 100 |
190 | IT0004186711 | UI1387 | 425942 | UC TEN C18 | GN07 | TENARIS | Call | 18 | 01/06/2007 | 0,1 | 1000000 | 1000 | 20 |
191 | IT0004186729 | UI1388 | 425943 | UC TEN C21 | GN07 | TENARIS | Call | 21 | 01/06/2007 | 0,1 | 1000000 | 1000 | 50 |
192 | IT0004186737 | UI1389 | 425944 | XX XXX X00 | XX00 | XXXXXXX | Xxx | 17 | 07/09/2007 | 0,1 | 1000000 | 1000 | 20 |
193 | IT0004186745 | UI1390 | 425945 | XX XXX X00,0 | XX00 | XXXXXXX | Call | 18,5 | 07/09/2007 | 0,1 | 1000000 | 1000 | 20 |
194 | IT0004186752 | UI1391 | 425946 | XX XXX X00 | XX00 | XXXXXXX | Xxxx | 22 | 07/09/2007 | 0,1 | 1000000 | 1000 | 30 |
195 | IT0004186760 | UI1392 | 425947 | XX XXX X00 | XX00 | XXXXXXX | Xxx | 18 | 07/12/2007 | 0,1 | 1000000 | 1000 | 20 |
196 | IT0004186778 | UI1393 | 425948 | UC TEN C19 | DC07 | TENARIS | Call | 19 | 07/12/2007 | 0,1 | 1000000 | 1000 | 20 |
197 | IT0004186786 | UI1394 | 425949 | UC TEN C23 | DC07 | TENARIS | Call | 23 | 07/12/2007 | 0,1 | 1000000 | 1000 | 30 |
mercoledì 21 febbraio 2007 Pagina 3 di 6
Serie Isin Sigla SIA Descrizione Sottostante Facoltà Strike Scad. Multiplo Ammontare Lotto Neg. X.Xxxxx MM
198 | IT0004186794 | UI1395 | 425950 | XX XXX X0,0 | XX00 | TERNA | Call | 2,9 | 01/06/2007 | 0,1 | 1000000 | 1000 | 500 |
199 | IT0004186802 | UI1396 | 425951 | XX XXX X0,0 | XX00 | XXXXX | Call | 3,1 | 07/09/2007 | 0,1 | 1000000 | 1000 | 500 |
200 | IT0004186810 | UI1397 | 425952 | XX XXX X0,0 | XX00 | XXXXX | Xxx | 2,7 | 07/12/2007 | 0,1 | 1000000 | 1000 | 150 |
201 | IT0004186828 | UI1398 | 425953 | XX XXX X0,0 | XX00 | XXXXX | Xxxx | 2,7 | 07/12/2007 | 0,1 | 1000000 | 1000 | 150 |
202 | IT0004186836 | UI1399 | 425954 | XX XXX X0,0 | XX00 | XXXXX | Xxxx | 3,2 | 07/12/2007 | 0,1 | 1000000 | 1000 | 500 |
203 | IT0004186844 | UI1400 | 425955 | XX XXX X0,0 | XX00 | XXXXXXX | Xxx | 2,5 | 07/09/2007 | 0,1 | 1000000 | 1000 | 150 |
204 | IT0004186851 | UI1401 | 425956 | XX XXX X0,0 | XX00 | XXXXXXX | Xxxx | 3,1 | 07/09/2007 | 0,1 | 1000000 | 1000 | 200 |
205 | IT0004186869 | UI1402 | 425957 | XX XXX X0,0 | XX00 | XXXXXXX | Xxxx | 3,4 | 07/09/2007 | 0,1 | 1000000 | 1000 | 300 |
206 | IT0004186877 | UI1403 | 425958 | XX XXX X0,0 | XX00 | XXXXXXX | Xxx | 2,3 | 07/12/2007 | 0,1 | 1000000 | 1000 | 100 |
207 | IT0004186885 | UI1404 | 425959 | XX XXX X0,0 | XX00 | XXXXXXX | Xxxx | 2,6 | 07/12/2007 | 0,1 | 1000000 | 1000 | 100 |
208 | IT0004186893 | UI1405 | 425960 | XX XXX X0,0 | XX00 | XXXXXXX | Xxx | 2,6 | 07/12/2007 | 0,1 | 1000000 | 1000 | 100 |
209 | IT0004186901 | UI1406 | 425961 | XX XXX X0,0 | XX00 | XXXXXXX | Xxxx | 2,9 | 07/12/2007 | 0,1 | 1000000 | 1000 | 100 |
210 | IT0004186919 | UI1407 | 425962 | XX XXX X0,0 | XX00 | XXXXXXX | Xxxx | 3,2 | 07/12/2007 | 0,1 | 1000000 | 1000 | 150 |
211 | IT0004186927 | UI1408 | 425963 | UC USAAQ C90 DC07 | APPLE | Call | 90 | 07/12/2007 | 0,1 | 1000000 | 1000 | 5 | |
212 | IT0004186935 | UI1409 | 425964 | UC USAAQ C120 DC07 | APPLE | Call | 120 | 07/12/2007 | 0,1 | 1000000 | 1000 | 10 | |
213 | IT0004186943 | UI1410 | 425965 | UC USCIS C28 DC07 | CISCO SYSTEMS | Call | 28 | 07/12/2007 | 0,1 | 1000000 | 1000 | 10 | |
214 | IT0004186950 | UI1411 | 425966 | UC USCIS C32 DC07 | CISCO SYSTEMS | Call | 32 | 07/12/2007 | 0,1 | 1000000 | 1000 | 20 |
mercoledì 21 febbraio 2007 Pagina 4 di 6
Serie Isin Sigla SIA Descrizione Sottostante Facoltà Strike Scad. Multiplo Ammontare Lotto Neg. X.Xxxxx MM
215 | IT0004186968 | UI1412 | 425967 | XX XXX X00 | XX00 | XXXXXXXX XXXXXXX | Call | 14 | 07/12/2007 | 0,1 | 1000000 | 1000 | 30 |
216 | IT0004186976 | UI1413 | 425968 | XX XXX X00 | XX00 | XXXXXXXX XXXXXXX | Xxxx | 16 | 07/12/2007 | 0,1 | 1000000 | 1000 | 100 |
217 | IT0004186984 | UI1414 | 425969 | UC USGOOG C470 DC07 | Call | 470 | 07/12/2007 | 0,01 | 1000000 | 1000 | 5 | ||
218 | IT0004186992 | UI1415 | 425970 | UC USGOOG C600 DC07 | Call | 600 | 07/12/2007 | 0,01 | 1000000 | 1000 | 20 | ||
219 | IT0004187008 | UI1416 | 425971 | UC USINL C21 DC07 | INTEL | Call | 21 | 07/12/2007 | 0,1 | 1000000 | 1000 | 20 | |
220 | IT0004187016 | UI1417 | 425972 | UC USINL C25 DC07 | INTEL | Call | 25 | 07/12/2007 | 0,1 | 1000000 | 1000 | 30 | |
221 | IT0004187024 | UI1418 | 425973 | UC XXXXX X00 XX00 | MICROSOFT | Call | 30 | 07/12/2007 | 0,1 | 1000000 | 1000 | 20 | |
222 | IT0004187032 | UI1419 | 425974 | UC XXXXX X00 XX00 | MICROSOFT | Call | 35 | 07/12/2007 | 0,1 | 1000000 | 1000 | 50 | |
223 | IT0004187040 | UI1420 | 425975 | XX XXX0X X00 XX00 | XXXXX | Xxx | 17 | 07/12/2007 | 0,1 | 1000000 | 1000 | 20 | |
224 | IT0004187057 | UI1421 | 425976 | UC NOK1V C17 DC07 | NOKIA | Call | 17 | 07/12/2007 | 0,1 | 1000000 | 1000 | 20 | |
225 | IT0004187065 | UI1422 | 425977 | UC NOK1V C20 DC07 | NOKIA | Call | 20 | 07/12/2007 | 0,1 | 1000000 | 1000 | 50 | |
226 | IT0004187073 | UI1423 | 425978 | XX XXX X00 XX00 | STMICROELECTR ONICS | Put | 15 | 01/06/2007 | 0,1 | 1000000 | 100 | 300 | |
227 | IT0004187081 | UI1424 | 425979 | XX XXX X00 XX00 | XXXXXXXXXXXXX | Call | 18 | 01/06/2007 | 0,1 | 1000000 | 100 | 2500 | |
ONICS | |||||||||||||
228 | IT0004187107 | UI1426 | 425980 | XX XXX X00 XX00 | XXXXXXXXXXXXX | Put | 15 | 07/09/2007 | 0,1 | 1000000 | 100 | 200 | |
ONICS | |||||||||||||
229 | IT0004187115 | UI1427 | 425981 | XX XXX X00 XX00 | XXXXXXXXXXXXX | Call | 17 | 07/09/2007 | 0,1 | 1000000 | 100 | 500 | |
ONICS |
mercoledì 21 febbraio 2007 Pagina 5 di 6
Serie Isin Sigla SIA Descrizione Sottostante Facoltà Strike Scad. Multiplo Ammontare Lotto Neg. X.Xxxxx MM
230 | IT0004187123 | UI1428 | 425982 | XX XXX X00 | XX00 | XXXXXXXXXXXXX ONICS | Call | 18 | 07/09/2007 | 0,1 | 1000000 | 100 | 800 |
231 | IT0004187131 | UI1429 | 425983 | XX XXX X00 | XX00 | XXXXXXXXXXXXX ONICS | Call | 19 | 07/09/2007 | 0,1 | 1000000 | 100 | 1500 |
232 | IT0004187149 | UI1430 | 425984 | XX XXX X00 | XX00 | XXXXXXXXXXXXX ONICS | Call | 20 | 07/09/2007 | 0,1 | 1000000 | 100 | 2000 |
233 | IT0004187156 | UI1431 | 425985 | XX XXX X00 | XX00 | XXXXXXXXXXXXX ONICS | Put | 12 | 07/12/2007 | 0,1 | 1000000 | 100 | 600 |
234 | IT0004187164 | UI1432 | 425986 | XX XXX X00 | XX00 | XXXXXXXXXXXXX ONICS | Put | 13 | 07/12/2007 | 0,1 | 1000000 | 100 | 400 |
235 | IT0004187172 | UI1433 | 425987 | XX XXX X00 | XX00 | XXXXXXXXXXXXX ONICS | Call | 14 | 07/12/2007 | 0,1 | 1000000 | 100 | 150 |
236 | IT0004187180 | UI1434 | 425988 | XX XXX X00 | XX00 | XXXXXXXXXXXXX ONICS | Put | 14 | 07/12/2007 | 0,1 | 1000000 | 100 | 300 |
237 | IT0004187198 | UI1435 | 425989 | XX XXX X00 | XX00 | XXXXXXXXXXXXX ONICS | Call | 15 | 07/12/2007 | 0,1 | 1000000 | 100 | 200 |
238 | IT0004187206 | UI1436 | 425990 | XX XXX X00 | XX00 | XXXXXXXXXXXXX ONICS | Put | 15 | 07/12/2007 | 0,1 | 1000000 | 100 | 200 |
239 | IT0004187214 | UI1437 | 425991 | XX XXX X00 | XX00 | XXXXXXXXXXXXX | Call | 16 | 07/12/2007 | 0,1 | 1000000 | 100 | 300 |
ONICS | |||||||||||||
240 | IT0004187222 | UI1438 | 425992 | XX XXX X00 | XX00 | XXXXXXXXXXXXX | Call | 17 | 07/12/2007 | 0,1 | 1000000 | 100 | 300 |
ONICS | |||||||||||||
241 | IT0004187230 | UI1439 | 425993 | XX XXX X00 | XX00 | XXXXXXXXXXXXX | Call | 18 | 07/12/2007 | 0,1 | 1000000 | 100 | 500 |
ONICS |
mercoledì 21 febbraio 2007 Pagina 6 di 6
Serie Isin Sigla SIA Descrizione Sottostante Facoltà Strike Scad. Multiplo Ammontare Lotto Neg. X.Xxxxx MM
1 | IT0004187388 | UI0596 | 426081 | XX XXXXXX X00,0 XX00 | ARGENTO | Put | 13,5 | 15/06/2007 | 0,1 | 1000000 | 100 | 400 |
2 | IT0004187396 | UI0672 | 426082 | XX XXXXXX X00,0 XX00 | ARGENTO | Put | 14,5 | 15/06/2007 | 0,1 | 1000000 | 100 | 200 |
3 | IT0004187404 | UI0777 | 426083 | XX XXXXXX X00 XX00 | ARGENTO | Put | 13 | 21/09/2007 | 0,1 | 1000000 | 100 | 300 |
4 | IT0004187412 | UI0778 | 426084 | XX XXXXXX X00,0 XX00 | ARGENTO | Put | 13,5 | 21/09/2007 | 0,1 | 1000000 | 100 | 300 |
5 | IT0004187420 | UI0779 | 426085 | XX XXXXXX X00 XX00 | XXXXXXX | Call | 14 | 21/09/2007 | 0,1 | 1000000 | 100 | 200 |
6 | IT0004187438 | UI0780 | 426086 | XX XXXXXX X00 XX00 | ARGENTO | Put | 14 | 21/09/2007 | 0,1 | 1000000 | 100 | 200 |
7 | IT0004187560 | UI1080 | 426087 | UC ORO P575 GN07 | ORO | Put | 575 | 15/06/2007 | 0,01 | 1000000 | 100 | 600 |
8 | IT0004187578 | UI1081 | 426088 | UC ORO C625 GN07 | ORO | Call | 625 | 15/06/2007 | 0,01 | 1000000 | 100 | 100 |
9 | IT0004187586 | UI1082 | 426089 | UC ORO P625 GN07 | ORO | Put | 625 | 15/06/2007 | 0,01 | 1000000 | 100 | 200 |
10 | IT0004187594 | UI1083 | 426090 | UC ORO C675 GN07 | ORO | Call | 675 | 15/06/2007 | 0,01 | 1000000 | 100 | 150 |
11 | IT0004187602 | UI1084 | 426091 | UC ORO P575 ST07 | ORO | Put | 575 | 21/09/2007 | 0,01 | 1000000 | 100 | 300 |
12 | IT0004187610 | UI1085 | 426092 | UC ORO C625 ST07 | ORO | Call | 625 | 21/09/2007 | 0,01 | 1000000 | 100 | 50 |
13 | IT0004187628 | UI1086 | 426093 | UC ORO P625 ST07 | ORO | Put | 625 | 21/09/2007 | 0,01 | 1000000 | 100 | 150 |
14 | IT0004187636 | UI1087 | 426094 | UC ORO C675 ST07 | ORO | Call | 675 | 21/09/2007 | 0,01 | 1000000 | 100 | 100 |
mercoledì 21 febbraio 2007 Pagina 1 di 1
Serie Isin Sigla SIA Descrizione Sottostante Facoltà Strike Scad. Multiplo Ammontare Lotto Neg. X.Xxxxx MM
1 | IT0004187446 | UI0781 | 414545 | XX XXXXX0 X00,0 | XX00 | Future Xxxxxxxx XXX Xxx. 07 | Put | 52,5 | 14/06/2007 | 0,1 | 1000000 | 100 | 200 |
2 | IT0004187453 | UI0782 | 414547 | XX XXXXX0 X00,0 | XX00 | Future Petrolio WTI Lug. 07 | Call | 57,5 | 14/06/2007 | 0,1 | 1000000 | 100 | 100 |
3 | IT0004187461 | UI0783 | 414658 | XX XXXXX0 X00,0 | XX00 | Future Petrolio WTI Lug. 07 | Put | 57,5 | 14/06/2007 | 0,1 | 1000000 | 100 | 100 |
4 | IT0004187479 | UI1071 | 425741 | XX XXXXX0 X00,0 | XX00 | Future Petrolio WTI Lug. 07 | Call | 62,5 | 14/06/2007 | 0,1 | 1000000 | 100 | 100 |
5 | IT0004187487 | UI1072 | 425743 | XX XXXXX0 X00,0 | XX00 | Future Xxxxxxxx XXX Xxx. 07 | Put | 62,5 | 14/06/2007 | 0,1 | 1000000 | 100 | 100 |
6 | IT0004187495 | UI1073 | 425744 | XX XXXXX0 X00 | XX00 | Future Petrolio WTI Dic. 07 | Put | 50 | 15/11/2007 | 0,1 | 1000000 | 100 | 150 |
7 | IT0004187503 | UI1074 | 425745 | XX XXXXX0 X00 | XX00 | Future Petrolio WTI Dic. 07 | Call | 55 | 15/11/2007 | 0,1 | 1000000 | 100 | 50 |
8 | IT0004187511 | UI1075 | 425760 | XX XXXXX0 X00 | XX00 | Future Petrolio WTI Dic. 07 | Put | 55 | 15/11/2007 | 0,1 | 1000000 | 100 | 100 |
9 | IT0004187529 | UI1076 | 425762 | XX XXXXX0 X00 | XX00 | Future Petrolio WTI Dic. 07 | Call | 60 | 15/11/2007 | 0,1 | 1000000 | 100 | 50 |
10 | IT0004187537 | UI1077 | 426064 | XX XXXXX0 X00 | XX00 | Future Petrolio | Put | 60 | 15/11/2007 | 0,1 | 1000000 | 100 | 100 |
WTI Dic. 07 | |||||||||||||
11 | IT0004187545 | UI1078 | 426065 | XX XXXXX0 X00 | XX00 | Future Petrolio | Call | 65 | 15/11/2007 | 0,1 | 1000000 | 100 | 100 |
WTI Dic. 07 | |||||||||||||
12 | IT0004187552 | UI1079 | 426066 | XX XXXXX0 X00 | XX00 | Future Petrolio | Call | 70 | 15/11/2007 | 0,1 | 1000000 | 100 | 100 |
WTI Dic. 07 |
mercoledì 21 febbraio 2007 Pagina 1 di 1
Serie Isin Sigla SIA Descrizione Sottostante Facoltà Strike Scad. Multiplo Ammontare Lotto Neg. X.Xxxxx MM
1 | IT0004187248 | UI1173 | 426067 | UC EURJPY P157,5GN07 | EUR/JPY | Put | 157,5 | 01/06/2007 | 10 | 1000000 | 100 | 100 |
2 | IT0004187255 | UI1174 | 426068 | XX XXXXXX X000 XX00 | XXX/XXX | Put | 160 | 01/06/2007 | 10 | 1000000 | 100 | 100 |
3 | IT0004187263 | UI1175 | 399899 | UC EURJPY C162,5GN07 | EUR/JPY | Call | 162,5 | 01/06/2007 | 10 | 1000000 | 100 | 500 |
4 | IT0004187271 | UI1176 | 390118 | XX XXXXXX X000 XX00 | XXX/XXX | Call | 165 | 01/06/2007 | 10 | 1000000 | 100 | 1000 |
5 | IT0004187289 | UI1177 | 426071 | XX XXXXXX X000,0XX00 | XXX/XXX | Put | 157,5 | 07/09/2007 | 10 | 1000000 | 100 | 100 |
6 | IT0004187297 | UI1178 | 426072 | XX XXXXXX X000 XX00 | XXX/XXX | Put | 160 | 07/09/2007 | 10 | 1000000 | 100 | 100 |
7 | IT0004187305 | UI1179 | 383097 | XX XXXXXX X000,0XX00 | XXX/XXX | Call | 162,5 | 07/09/2007 | 10 | 1000000 | 100 | 300 |
8 | IT0004187313 | UI1180 | 399512 | XX XXXXXX X000 XX00 | XXX/XXX | Call | 165 | 07/09/2007 | 10 | 1000000 | 100 | 400 |
9 | IT0004187321 | UI1181 | 426075 | UC EURJPY P157,5DC07 | EUR/JPY | Put | 157,5 | 07/12/2007 | 10 | 1000000 | 100 | 100 |
10 | IT0004187339 | UI1182 | 426076 | XX XXXXXX X000 XX00 | XXX/XXX | Put | 160 | 07/12/2007 | 10 | 1000000 | 100 | 50 |
11 | IT0004187347 | UI1183 | 426077 | UC EURJPY C162,5DC07 | EUR/JPY | Call | 162,5 | 07/12/2007 | 10 | 1000000 | 100 | 200 |
12 | IT0004187354 | UI1184 | 426078 | UC EURJPY C165 DC07 | EUR/JPY | Call | 165 | 07/12/2007 | 10 | 1000000 | 100 | 300 |
13 | IT0004187362 | UI1185 | 426079 | UC EURUSD P1,325ST07 | EUR/USD | Put | 1,325 | 07/09/2007 | 10 | 1000000 | 100 | 100 |
14 | IT0004187370 | UI1186 | 426080 | XX XXXXXX X0,00 XX00 | EUR/USD | Put | 1,35 | 07/09/2007 | 10 | 1000000 | 100 | 100 |
mercoledì 21 febbraio 2007 Pagina 1 di 1
Final Terms dated 19 February 2007
UNICREDITO ITALIANO S.p.A.
(the "Issuer")
Issue of Euro 23,228,200 Warrants linked to Shares
under its Euro 8,000,000,000 Warrant and Certificate Programme
This document constitutes the Final Terms relating to the issue of Securities described herein and final terms for the purposes of Article 5.4 of the Prospectus Directive (Directive 2003/71/EC) (the Prospectus Directive).
Terms used herein shall be deemed to be defined as such for the purposes of the Terms and Conditions set forth in the Prospectus dated 14 December 2006. This Final Terms contains the final terms of the Securities described herein and must be read in conjunction with such Prospectus in order to obtain full information on the Issuer and the Securities themselves. Copies of such Prospectus are available free of charge to the public during normal business hours at the registered office of the Issuer and in an electronic form on the website of the Issuer at xxx.xxxxxxxxxx.xx and on the website of the Borsa Italiana S.p.A. Stock Exchange at xxx.xxxxxxxxxxx.xx.
Save as disclosed in "Offering and Sale", so far as the Issuer is aware, no person involved in the offer of the Securities has an interest material to the offer.
References herein to numbered Conditions are to the Terms and Conditions of the Warrants and the Terms and Conditions of the Certificates and words and expressions defined in such terms and conditions shall bear the same meaning in this Final Terms, save as where otherwise expressly provided.
The securities are derivative instruments and, therefore, may not be a suitable investment for all investors.
Before making any investment decision, potential purchasers of the Securities described herein should carefully consider the risk factors described in the Prospectus and Annex below, and should base such a decision on a thorough review of the entire Prospectus, including all documents incorporated by reference therein.
The information concerning to risks involved in the investment in the Securities is not part of the Terms and Conditions.
The order and extent of the risks descriptions under Xxxxx herein and in the Prospectus are not intended to be an indication of the scope of the financial consequences of any given risk, should it realise, nor an indication of the likelihood that any of the risks described will realise. Various risks may occur in combination and reinforce one another.
The general risk overview in the Prospectus and the additional specific risks described in Annex herein are not meant to replace the investor’s individual consultation with its own financial advisor(s) prior to making
any investment decision. Potential investors' financial advisors should be able to provide further information on transactions involving futures and options and the risks associated therewith.
The Securities are based on complex mathematical structures, which may not be readily intelligible to the investor. In addition, there is the possibility that the investor may underestimate the true risk associated with a purchase of Securities. Potential investors should therefore ensure that they have gained a thorough understanding of the Securities described herein.
Before purchasing Securities, potential investors should carefully review their financial situation to make sure that they can bear the risks of loss associated with the Securities, also including, in several cases, the risk of a total loss of their investment.
The Issuer (the Responsible Person) accepts responsibility for the information contained in this Final Terms. To the best of the knowledge and belief of the Issuer, which has taken all reasonable care to ensure that such is the case, the information contained in this Final Terms is in accordance with the facts and does not omit anything likely to affect the import of such information.
CONTRACTUAL TERMS
A.1 GENERAL PROVISIONS
1. Issuer: UniCredito Italiano S.p.A.
2. Series Number: The Series Number of the Warrants is as specified in Annex I.
3. Tranche: The Tranche of each Series of Warrants is specified in Annex I.
4. Consolidation: Not Applicable
5. Type of Securities: (i) The Securities are Warrants.
(ii) The Securities are Share Warrants.
(iii) The Securities relate to shares (the Shares), as specified in Xxxxx X. See also Xxxxx XX for a description of the Shares.
6. Form of Securities: No Securities in definitive form will be issued. No physical
document of title will be issued to represent the Securities. On issue, the Securities will be registered in the books of Monte Titoli. Despite of the relevant clearing system, the Securities will be held in bearer form on behalf of the beneficial owners until settlement and cancellation thereof.
7. Status of the Securities: Direct, unsubordinated and unsecured.
8. Admission to trading: Application has been made for the Warrants of each Series to
be admitted to trading on the SEDEX market of Borsa Italiana S.p.A..
UniCredit Banca Mobiliare S.p.A., xxx Xxxxxxx Xxxxxx 00, 00000 Xxxxx (Xxxxx), (the Market Maker) has undertaken to provide liquidity through bid and offer quotes in accordance with the market making rules of Borsa Italiana S.p.A., where the Warrants of each Series are expected to be listed. The obligations of the Market Maker are regulated by the Rules of the markets organized and managed by Borsa Italiana, and the relevant Instructions to such rules.
9. Averaging: Not Applicable
10. Number of Securities being issued: See Annex I in relation to each Series of Warrants.
11. Issue Price: The indicative issue price per Warrants in relation to each Series is the one specified as such in Annex I.
12. Issue Date: The Issue Date is:
- 22 February 2007 with respect to Shares specified in Annex I – Table A from Series Number 1 to Series Number 148;
- 23 February 2007 with respect to Shares specified in Annex I – Table A from Series Number 149 to Series Number 210, Table B and Table C.
13. Maturity Date: The Maturity Date is the date specified as such in Annex I.
14. Exchange Business Day: As set out in Condition 3
15. Business Day Centre(s): Milan
16. Valuation Date(s): The date, as determined by the Calculation Agent, is:
(a) in the case of Automatic Exercise:
- with respect to Shares specified in Annex I – Table A, the Business Day immediately preceding the Maturity Date of the Warrants;
- with respect to Shares specified in Annex I – Table B, the Maturity Date, except for Stmicroelectronics;
- with respect to the Stmicroelectronics Share, the Business Day immediately preceding the Maturity Date of the Warrants;
- with respect to Shares specified in Annex I – Table C, the Maturity Date of the Warrants;
(b) in the case of exercise of the Warrant during the Exercise Period, the relevant Actual Exercise Date.
17. Settlement: Settlement will be by way of cash payment.
18. Issuer's option to vary Settlement: Not Applicable
19. Exchange Rate: With respect to Shares specified in Annex I – Table C, the applicable rate of exchange for conversion of any amount into the Settlement Currency for the purposes of determining the Cash Settlement Amount is the European Central Bank Settlement Spot Rate, fixing of the exchange rate of the USD against the EUR at 14:15 CET on the Valuation Date, as published on the Reuters page ECB37.
20. Settlement Currency: The settlement currency for the payment of the Cash Settlement
Amount is EUR.
21. Parity: The Parity is the amount indicated as such in Annex I in relation to each Series of Warrants.
22. Rounding: As set out in Condition 4(B)(ii).
23. Principal Agent: The Principal Agent is UniCredit Banca Mobiliare S.p.A., with registered office in Xxx Xxxxxxx Xxxxxx, 00, 00000, Xxxxx, Xxxxx.
24. Calculation Agent: The Calculation Agent is UniCredit Banca Mobiliare S.p.A.,
with registered office in Xxx Xxxxxxx Xxxxxx, 00, 00000, Xxxxx, Xxxxx.
25. Paying Agent: The Paying Agent is UniCredit Banca Mobiliare S.p.A.with registered office in Xxx Xxxxxxx Xxxxxx, 00, 00000, Xxxxx, Xxxxx.
26. Exchange(s): The Exchange is:
- with respect to Shares specified in Annex I – Table A, Borsa Italiana S.p.A.;
- with respect to the Deutsche Telekom Share, Xetra;
- with respect to the Nokia Share, Helsinki Stock Exchange;
- with respect to the Stmicroelectronics Share, Euronext Paris;
- with respect to Shares specified in Annex I – Table C, Nasdaq Stock Market Inc..
27. Exchange(s) and Index Sponsor: Not Applicable
28. Related Exchange(s): The Related Exchange is:
- with respect to Shares specified in Annex I – Table A, IDEM of Borsa Italiana S.p.A.;
- with respect to the Deutsche Telekom Share and the Nokia Share, Eurex Exchange;
- with respect to the Stmicroelectronics Share, Euronext Liffe;
- with respect to Shares specified in Annex I – Table C, the Chicago Mercantile Exchange.
29. Multiplier: Not Applicable
30. Relevant Asset(s): Not Applicable
31. Entitlement: Not Applicable
32. Settlement Price: The Settlement Price of the Shares, as determined by the Calculation Agent, is:
- with respect to Shares specified in Annex I – Table A, the price calculated on the Valuation Date set out in Condition 3 and published on Reuters respectively at AEMI.MI (Aem), AZPIa.MI (Alitalia), ALZI.MI
(Alleanza), AGL.MI (Autogrill), PMII.MI (Banca Popolare di Milano), BIL.MI (Banca Italease), BPVN.MI (Banca Popolare di Verona e Novara), BPI.MI (Banca Popolare Italiana), BPUN.MI (Banche Pop. Unite), BULG.MI (Bulgari), CPTA.MI (Capitalia), ENEI.MI (Enel), ENI.MI (Eni), ERG.MI
(Erg SpA), FIA.MI (Fiat), SIFI.MI (Finmeccanica), IFLI.MI (IFIL Investment), GASI.MI (Generali), ISP.MI (Intesa SanPaolo), LUX.MI (Luxottica), MS.MI (Mediaset), MDBI.MI (Mediobanca), MED.MI (Mediolanum), BMPS.MI (Montepaschi), PECI.MI (Pirelli), RCSM.MI (RCS Mediagroup), SIFI.MI (Finmeccanica), SPMI.MI (Saipem), TENR.MI (Tenaris), TLIT.MI (Telecom Italia), TLITn.MI (Telecom Italia Risp.), TRN.MI (Terna) and TIS.MI (Tiscali).
- with respect to Shares specified in Annex I – Table B, except for Stmicroelectronics, the official opening price calculated by the relevant Exchange on the Valuation Date and published on Reuters respectively at XXXXx.XX (Deutsche Telekom) and NOK1V.HE (Nokia);
- with respect to the Stmicroelectronics Share, the official closing price calculated by the relevant
Exchange on the Valuation Date and published on Reuters at XXX.XX.
- with respect to Shares specified in Annex I – Table C, the official closing price calculated by the relevant Exchange on the Valuation Date and published on Reuters respectively at AAPL.O (Apple Computer), CSCO.O (Cisco Systems), INTC.O (Intel), GOOG.OQ (Google), MSFT.O (Microsoft) .
33. Disrupted Day: If the Valuation Date is a Disrupted Day, Condition 3 shall apply.
34. Relevant Time: The Relevant Time for the calculation of the Settlement Price of the Shares is:
- with respect to Shares specified in Annex I – Table A, the time specified on the Valuation Date by the relevant Exchange for the purpose of calculating the reference price;
- with respect to Shares specified in Annex I – Table B, the scheduled opening time specified on the Valuation Date by the relevant Exchange, except for Stmicroelectronics;
- with respect to the Stmicroelectronics Share, the scheduled closing time specified on the Valuation Date by the relevant Exchange.
- with respect to Shares specified in Annex I – Table C, the scheduled closing time specified on the Valuation Date by the relevant Exchange.
35. Currency: Not Applicable
36. Additional Disruption Events: Not Applicable
37. Failure to Deliver due to Illiquidity:
Not Applicable
38. Special conditions or other modifications to the Terms and Conditions:
Not Applicable
39. Listing: Application will be made for the Securities to be listed on the SEDEX market of Borsa Italiana S.p.A..
40. Additional Selling Restrictions: Not Applicable
41. Syndication: Not Applicable
42. Additional or Alternative Clearing System:
All the transactions of each Series of Warrants negotiated on the SEDEX market of Borsa Italiana S.p.A. will be settled in Monte Titoli.
43. Notice provisions (other than as set out in the Terms and Conditions):
All notices to the Holders shall be valid if published by Borsa Italiana S.p.A.. All notices to the Holders shall also be published by the Calculation Agent on the website xxx.xxxxxxxxxx.xx. In the case the notices have been published both by Borsa Italiana S.p.A. and the Calculation Agent, such notices will be considered valid from the date of publication of Borsa Italiana S.p.A..
44. Governing law of the Securities: Italian law.
A.2 PROVISIONS RELATING TO THE SECURITIES
45. Type of Warrants: The Warrants are American Style Warrants.
The Warrants are Call Warrants and Put Warrants. See Annex I in relation to each Series of Warrants.
Automatic Exercise applies.
46. Units: Warrants must be exercised in Units. See Annex I in relation to each Series of Warrants.
47. Exercise Price: See Annex I in relation to each Series of Warrants.
48. Exercise Date: Not Applicable
49. Exercise Period The exercise period in respect of the Warrants is from and including the Issue Date to and including one Exercise Business Day immediately preceding the Maturity Date (10.00 a.m. Milan Time).
50. Settlement Date: The fifth Business Day after the Valuation Date.
51. Minimum Exercise Number: The minimum number of Warrants that may be exercised by
any Holder is equal to one Unit.
52. Maximum Exercise Number: Not Applicable
53. Cash Settlement Amount: Subject as set out in the Conditions (as supplemented and/or
amended by these Final Terms), the Issuer will pay the Cash Settlement Amount to the Holders on the Settlement Date.
In relation to each Series of Warrants, the Cash Settlement
Amount shall be determined by the Calculation Agent as set out in Condition 4(B)(i).
54. Settlement Business Day: Not Applicable
55. Notional Amount of each Certificate:
Not Applicable
56. Interest Payment Dates: Not Applicable
57. Interest Rate: Not Applicable
58. Interest Rate Day Count Fraction: Not Applicable
59. Renouncement Date: The Renouncement Date is:
- with respect to Shares specified in of Annex I – Table A, the Valuation Date;
- with respect to Shares specified in of Annex I – Table B and Table C, the first Business Day following the Valuation Date.
PART B – OTHER INFORMATION
B.1 CONFLICT OF INTEREST:
60. Conflicts of interest in respect of the issue:
UniCredit Banca Mobiliare S.p.A. has a conflict of interest being the arranger of the Warrants, the Calculation Agent and the Market Maker on the SEDEX market of Borsa Italiana S.p.A., where the Warrants are expected to be admitted to trading, following an application by the Issuer.
B.2 DISTRIBUTION:
61. If syndicated, names and addresses of managers and underwriting commitments:
Not Applicable
62. Date of [Subscription] Agreement: Not Applicable
63. Stabilising Manager (if any): Not Applicable
64. If non-syndicated, name and address of Manager:
Not Applicable
65. Total commission and concession: Not Applicable
66. Conditions of the Offer: Not Applicable
B.3 REASONS FOR THE
OFFER, ESTIMATED NET PROCEEDS AND TOTAL EXPENSES:
67. (i) Reasons for the offer: See “Use of Proceeds” in the Prospectus.
68. (ii) Estimated net proceeds: Not Applicable
69. (iii) Estimated total expenses: Not Applicable
B.4 OPERATIONAL
INFORMATION:
70. ISIN Code: See Annex I in relation to each Series of Warrants. Each Series of Warrants is also identified by the ET Code, as specified in Annex I.
71. Common Code Not Applicable
72. Any clearing system(s) other than Euroclear Bank S.A./N.V. And Clearstream Banking Société Anonyme and the relevant identification number(s):
The Warrants are held through Monte Titoli in dematerialised form pursuant to Italian Legislative Decree no.213 of 24 June 1998, as subsequently amended and integrated. The Warrants will at all times be in book-entry form and title to Warrants will be evidenced by book entry in accordance with the provisions of the Italian Legislative Decree no. 213 of 24 June 1998, as subsequently amended and integrated. No physical document of title will be issued in respect of the Warrants.
73. Delivery: Delivery free of payment. The Warrants shall, in the first instance, be credited to the account of the Issuer with Xxxxx Xxxxxx. Payment is not made in favour of the Issuer contemporaneously with the crediting of Warrants to its account with Monte Titoli.
74. Names and addresses of additional Agent(s) (if any):
UniCredit Banca Mobiliare S.p.A., Xxx Xxxxxxx Xxxxxx, 00, 00000, Xxxxx, Xxxxx, acting as Paying Agent.
B.5 LISTING AND ADMISSION TO TRADING
APPLICATION:
This Final Terms comprise the final terms required to list the issue of Warrants described herein pursuant to the Warrant and Certificate Programme.
B.6 RESPONSIBILITY:
75. Responsibility Statement: The Issuer accepts responsibility for the information contained
in this Final Terms subject as provided below. To the best of the knowledge and belief of the Issuer (which has taken all reasonable care to ensure that such is the case), the information contained in the Prospectus, as supplemented by this Final
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Xxxxx XX Information about the Shares
ISSUER | SHARE | ISIN | WEBSITE |
Aem S.p.A. X.xx xx Xxxxx Xxxxxxxx 0, 00000 Xxxxxx | Aem | IT0001233417 | |
Alitalia - Linee Aeree Italiane S.p. Xxx Xxxxxxxxx, 000 - Xxxx | Alitalia | IT0003918577 | |
Alleanza Assicurazioni X.x.XXxxxx X. Xxxxxx 00, 00000 Xxxxxx | Alleanza | IT0000078193 | |
Autogrill S.p.A xxx X. Xxxxxxxxx 0, 00000 Xxxxxx | Autogrill | IT0001137345 | |
Banca Italease S.p.A Xxx Xxxx xxx Xxxx 00 - 00000 Xxxxxx | Italease | IT0000226503 | |
Banca Popolare ItalianaVia Polenghi Lombardo, 13 - Lodi | Banca Popolare IT | IT0000064300 | |
Banca Popolare di XxxxxxXxxxxx X. Xxxx, 0 - 00000 Xxxxxx (XX) | Banca Pop. Milano | IT0000064482 | |
Banca Popolare di Verona e Nova Xxxxxx Xxxxxx x. 0. Xxxxx, Xxxxxx | Banca Pop. Verona e Novara | IT0003262513 | |
Banche Popolari XxxxxX.xx V. Veneto 8, Bergamo | B. Pop. Unite | IT0003487029 | |
Bulgari S.p.A. xxx Xxxxxxxxxxx Xxxxxx 00, Xxxx | Bulgari | IT0001119087 | |
Capitalia S.p.A xxx X. Xxxxxxxxx 00, Xxxx | Capitalia | IT0003121495 | |
Enel S.p.A. x.xx Xxxxxx Xxxxxxxxxx 000, Xxxx | Enel | IT0003128367 | |
Xxx X.x.X. X.xx Xxxxxx 0, 00000 Xxxx | Eni | IT0003132476 | |
Erg S.p.A. xxx Xxxxxx Xxxxxxxx, 0 - 00000 Xxxxxx (XX) | Erg | IT0001157020 | |
Fiat X.x. - xxx Xxxxx 000, 00000 Xxxxxx | Fiat | IT0001976403 | |
Finmeccanica S.p.A. X.xx Xxxxx Xxxxxx, 0 - Xxxx | Finmeccanica | IT0001407847 | |
Generali -X.xx Duca degli Abruzzi 2, Triestre | Generali | IT0000062072 | |
Ifil X.x.X. -X.xx Xxxxxxxxx, 00 - 00000 Xxxxxx | Ifil | IT0001353173 | |
Intesa SanPaolo. X.xx X. Xxxxx 000, 00000 Xxxxxx | Intesa SanPaolo | IT0000072618 | |
Lottomatica Xxx xxxxx xxx Xxxxxx 00/x - 00000 Xxxx | Lottomatica | IT0003990402 | |
Luxottica S.p.A. xxx X. Xxxxx 0, 00000 Xxxxxx | Luxottica | IT0001479374 | |
Mediaset S.p.A. xxx Xxxxxxxxx 0, Xxxxxx | Mediaset | IT0001063210 | |
Mediobanca X.x. - Xxxxxxxxx Xxxxxx Xxxxxx 0, 00000 Xxxxxx | Mediobanca | IT0000062957 | |
Mediolanum S.p.A. Xxxxxxx Xxxxxx, xxx X. Xxxxxx, Xxxxxxxx (Xxxxxx 3) | Mediolanum | IT0001279501 | |
Xxxxx xxx Xxxxxx xx XxxxxX.xx Xxxxxxxxx 0, Xxxxx | Montepaschi | IT0001334587 | |
Xxxxxxx & X. X.x.X. xxx X. Xxxxx 00, Xxxxxx | Pirelli & C. | IT0000072725 | |
RCS Mediagroup xxx X. Xxxxxxx 0, Xxxxxx | RCS Mediagroup | IT0003039010 | |
Saipem S.p.A. Xxx Xxxxxxx xx Xxxxxxxxx, 00, 00000 Xxx Xxxxxx Xxxxxxxx (Xxxxxx) | Saipem | IT0000068525 | |
Telecom Italia S.p.A. Xxxxxx xxxxx Xxxxxx x. 0, 00000 Xxxxxx | Telecom Italia | IT0003497168 | |
Telecom Italia Risp. | IT0003497176 | ||
Tenaris Dalmine S.A. X.xx Xxxxxx 0 Xxxxxx 0000, 0 - 00000 Xxxxxxx (Xxxxxxx) | Tenaris | LU0156801721 | |
Terna S.p.A. xxx Xxxx 00, Xxxx | Terna | IT0003242622 | |
Tiscali S.p.A. -S.S. 195 Km 2.300, 09122 Cagliari | Tiscali | IT0001453924 | |
Deutsche Telekom XXX-xxxxxxxx Xxxxx Xxxxx 000, 00000 Xxxx (Xxxxxxx) | Deutsche Telekom | DE0005557508 | |
Nokia -Keilalahdentie 2-4, X.X. Xxx 000, XXX-00000 Xxxxxxx | Nokia | FI0009000681 | |
Stmicroelectronics X- XX Xxxxxxxx Xxxxxxx, Xxxxxxxx Xxxxxxxxx 000, Xxxxxxxxxxx | Stmicroelectronics | NL0000226223 | |
Apple Computer Inc. 1- Infinite Loop, Cupertino, CA 95014 (USA) | Apple Computer | US0378331005 | |
Cisco Systems Inc. 1- 70 West Xxxxxx Drive. San Xxxx, CA 95134-1706 (USA) | Cisco Systems | US17275R1023 | |
Google Inc.- 0000 Xxxxxxxxxxxx Xxxxxxx, Xxxxxxxx Xxxx, XX 00000 (XXX) | US38259P5089 | ||
Intel Inc. -0000 Xxxxxxx Xxxxxxx Xxxx. Xxxxx Xxxxx, XX 00000 (XXX) | Intel | US4581401001 | |
Microsoft Inc. -One Microsoft Way Redmond, WA 98052-6399 (USA) | Microsoft | US5949181045 |
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Each Share underlying the Warrant is listed on the main international Stock Exchanges. The relevant issuers of the Shares are subject to disclosure requirements to both the competent local authorities and the investors.
The prices, historical trend and volatility of all Shares are available at xxx.xxxxxxxxxx.xx. The current prices of all Shares are also published daily on “Il Sole 24 Ore”, on xxx.xxxxxxxxxx.xx and may be requested on any Business Day by calling 000.00.00.00 (call free).
Further information on the Shares are also available on the website of Aem S.p.A (xxx.xxx.xx), Alleanza Assicurazioni S.p.A. (xxx.xxxxxxxxxxxxxxxxxxxxx.xx), Alitalia (xxx.xxxxxxxx.xx), Autogrill (xxx.xxxxxxxxx.xxx), Banca Italease S.p.A. (xxx.xxxxxxxx.xx), Banca Popolare Italiana (xxx.xxxxxxxxxxxxxxxxxxxxx.xx), Banca Popolare di Milano (xxx.xxx.xx), Banca Popolare di Verona e Novara (xxx.xxx.xx), Banche Pop. Unite (xxx.xxxxxxxx.xx), Bulgari S.p.A. (xxx.xxxxxxx.xxx), Capitalia
(xxx.xxxxxxxxx.xx), Enel (xxx.xxxx.xx), Eni (xxx.xxx.xx), Erg S.p.A. (xxx.xxx.xx), Fiat S.p.A. (xxx.xxxxxxxxx.xxx), Finmeccanica S.p.A. (xxx.xxxxxxxxxxxx.xx), Generali (xxx.xxxxxxxx.xx), Ifil S.p.A. (xxx.xxxx.xx), Intesa SanPaolo (xxx.xxxxxxxxxxxxxx.xx), Lottomatica (xxx.xxxxxxxxxxxxxxxxx.xx), Luxottica (xxx.xxxxxxxxx.xx), Mediaset S.p.A. (xxx.xxxxxxxx.xx), Mediobanca S.p.A. (xxx.xxxxxxxxxx.xx), Mediolanum (xxx.xxxxxxxxxx.xx), Monte dei Paschi di Siena (xxx.xxx.xx), Pirelli S.p.A. (xxx.xxxxxxx.xxx), RCS Mediagroup S.p.A (xxx.xxxxxxxxxxxxx.xx), Saipem S.p.A (xxx.xxxxxx.xx), Telecom Italia S.p.A. and Telecom Italia Risparmio (xxx.xxxxxxxxxxxxx.xx), Tenaris Dalmine S.A. (xxx.xxxxxxx.xx), Terna (xxx.xxxxx.xx), Tiscali S.p.A. (xxx.xxxxxxx.xx), Deutsche Telekom AG (xxx.xxxxxxx.xx), Nokia (xxx.xxxxx.xxx), Stmicroelectronics (xxx.xx.xxx), Apple Computer (xxx.xxxxx.xxx), Cisco System (xxx.xxxxx.xxx), Google (xxx.xxxxxx.xxx), Intel (xxx.xxxxx.xxx), Microsoft (xxx.xxxxxxxxx.xxx).
DICHIARAZIONE DI RINUNCIA ALL’ESERCIZIO (FACSIMILE)
(da compilare su carta intestata)
A: UniCredit Banca Mobiliare S.p.A.
Fax 02/8862.2666
Tel 02/8862.2746 - 02/8862.2736
Covered warrant su ………….. scad. ………… emessi da UniCredito Italiano S.p.A. (i “covered warrant”)
L’intermediario
,
che detiene in custodia i covered warrant per conto della propria clientela, con la presente comunica, in nome proprio e per conto della suddetta propria clientela, la volontà di rinuncia all’esercizio dei diritti garantiti dal covered warrant come da indicazione contenuta nei Terms & Conditions dei Warrants.
Codice ISIN dei covered warrant per i quali rinuncia, per conto della propria clientela, all’esercizio dei covered warrant a scadenza:
Numero di covered warrant per i quali rinuncia, per conto della propria clientela, all’esercizio dei covered warrant a scadenza:
Il sottoscritto è consapevole che la presente dichiarazione di rinuncia all’esercizio a scadenza non è valida qualora non siano rispettati i requisiti indicati nei Terms & Conditions dei Warrants. Questo vale anche qualora la dichiarazione non dovesse essere consegnata in tempo utile a UniCredit Banca Mobiliare S.p.A.
Luogo Data
Firma (firme) del legale rappresentante dell’intermediario
DICHIARAZIONE DI ESERCIZIO (FACSIMILE)
(da compilare su carta intestata)
A: UniCredit Banca Mobiliare S.p.A. Fax 02/8862.2666
Tel 02/8862.2746 - 02/8862.2736
covered warrant su ………… scad emessi da UniCredito Italiano S.p.A.
L’intermediario
che detiene in custodia i covered warrant per conto della propria clientela con la presente esercita in modo irrevocabile i diritti garantiti dal covered warrant come da indicazione contenuta nei Terms & Conditions dei Warrants.
Codice ISIN dei covered warrant da esercitare:
Numero di covered warrant da esercitare:
i covered warrant da esercitare sono stati trasferiti sul conto N. 63307 di 2S Banca presso Monte Titoli S.p.A.;
A - ordina irrevocabilmente a UniCredit Banca Mobiliare S.p.A. di trasmettere l'importo della differenza al seguente conto in Euro intestato a:
Titolare del conto
numero c/c
presso Istituto Bancario – ABI + CAB
B - ordina irrevocabilmente a UniCredit Banca Mobiliare S.p.A. di accreditare l’importo in Euro della differenza tramite stanza di compensazione giornaliera:
intestazione beneficiario
codice SIA
Il sottoscritto è consapevole che:
1. con la presente Dichiarazione di Esercizio esercita in modo irrevocabile i covered warrant con le caratteristiche precedentemente descritte che detiene in custodia per conto della propria clientela secondo le modalità previste nei Terms & Conditions dei Warrants;
2. nel momento in cui la Dichiarazione di Esercizio è ricevuta dall’Agente di Calcolo, non sarà possibile, per nessuna ragione, richiederne l’annullamento;
3. è esclusa la revoca della Dichiarazione di Esercizio;
4. deve adempiere ai seguenti obblighi: a) far pervenire la presente Dichiarazione di Esercizio entro le ore
10.00 (ora di Milano) del giorno in cui intende esercitare i covered warrant; b) provvedere al trasferimento dei covered warrant in relazione ai quali é inviata la presente Dichiarazione di Esercizio entro le ore 17.00 (ora di Milano) del giorno della richiesta di esercizio sul conto di 2S Banca, presso Monte Titoli S.p.A., n. 63307; c) trasferire i covered warrant in modo da rendere possibile una chiara correlazione alla Dichiarazione D'esercizio.
Luogo Data
Firma (firme) del legale rappresentante dell’intermediario
Final Terms dated 19 February 2007
UNICREDITO ITALIANO S.p.A.
(the "Issuer")
Issue of Euro 2,719,900 Warrants linked to Commodities under its Euro 8,000,000,000 Warrant and Certificate Programme
This document constitutes the Final Terms relating to the issue of Securities described herein and final terms for the purposes of Article 5.4 of the Prospectus Directive (Directive 2003/71/EC) (the Prospectus Directive).
Terms used herein shall be deemed to be defined as such for the purposes of the Terms and Conditions set forth in the Prospectus dated 14 December 2006.This Final Terms contains the final terms of the Securities described herein and must be read in conjunction with such Prospectus in order to obtain full information on the Issuer and the Securities themselves. Copies of such Prospectus are available free of charge to the public during normal business hours at the registered office of the Issuer and in an electronic form on the website of the Issuer at xxx.xxxxxxxxxx.xx and on the website of the Borsa Italiana S.p.A. Stock Exchange at xxx.xxxxxxxxxxx.xx.
Save as disclosed in "Offering and Sale", so far as the Issuer is aware, no person involved in the offer of the Securities has an interest material to the offer.
References herein to numbered Conditions are to the Terms and Conditions of the Warrants and the Terms and Conditions of the Certificates and words and expressions defined in such terms and conditions shall bear the same meaning in this Final Terms, save as where otherwise expressly provided.
The securities are derivative instruments and, therefore, may not be a suitable investment for all investors.
Before making any investment decision, potential purchasers of the Securities described herein should carefully consider the risk factors described in the Prospectus and Annex below, and should base such a decision on a thorough review of the entire Prospectus, including all documents incorporated by reference therein.
The information concerning to risks involved in the investment in the Securities is not part of the Terms and Conditions.
The order and extent of the risks descriptions under Xxxxx herein and in the Prospectus are not intended to be an indication of the scope of the financial consequences of any given risk, should it realise, nor an indication of the likelihood that any of the risks described will realise. Various risks may occur in combination and reinforce one another.
The general risk overview in the Prospectus and the additional specific risks described in Annex herein are not meant to replace the investor’s individual consultation with its own financial advisor(s) prior to making
any investment decision. Potential investors' financial advisors should be able to provide further information on transactions involving futures and options and the risks associated therewith.
The Securities are based on complex mathematical structures, which may not be readily intelligible to the investor. In addition, there is the possibility that the investor may underestimate the true risk associated with a purchase of Securities. Potential investors should therefore ensure that they have gained a thorough understanding of the Securities described herein.
Before purchasing Securities, potential investors should carefully review their financial situation to make sure that they can bear the risks of loss associated with the Securities, also including, in several cases, the risk of a total loss of their investment.
The Issuer (the Responsible Person) accepts responsibility for the information contained in this Final Terms. To the best of the knowledge and belief of the Issuer, which has taken all reasonable care to ensure that such is the case, the information contained in this Final Terms is in accordance with the facts and does not omit anything likely to affect the import of such information.
CONTRACTUAL TERMS
A.1 GENERAL PROVISIONS
1. Issuer: UniCredito Italiano S.p.A.
2. Series Number: The Series Number of the Warrants is as specified in Annex I.
3. Tranche: The Tranche of each Series of Warrants is specified in Annex I.
4. Consolidation: Not Applicable
5. Type of Securities: (i) The Securities are Warrants.
(ii) The Securities are Commodity Warrants.
(iii) The Securities relate to Commodities (the Commodities), as specified in Annex I. See also Xxxxx XX for a description of the Commodities.
6. Form of Securities: No Securities in definitive form will be issued. No physical
document of title will be issued to represent the Securities. On issue, the Securities will be registered in the books of Monte Titoli. Despite of the relevant clearing system, the Securities will be held in bearer form on behalf of the beneficial owners until settlement and cancellation thereof.
7. Status of the Securities: Direct, unsubordinated and unsecured.
8. Admission to trading: Application has been made for the Warrants of each Series to
be admitted to trading on the SEDEX market of Borsa Italiana S.p.A..
UniCredit Banca Mobiliare S.p.A., xxx Xxxxxxx Xxxxxx 00, 00000 Xxxxx (Xxxxx), (the Market Maker) has undertaken to provide liquidity through bid and offer quotes in accordance with the market making rules of Borsa Italiana S.p.A., where the Warrants of each Series are expected to be listed. The obligations of the Market Maker are regulated by the Rules of the markets organized and managed by Borsa Italiana, and the relevant Instructions to such rules.
9. Averaging: Not Applicable
10. Number of Securities being issued: See Annex I in relation to each Series of Warrants.
11. Issue Price: The indicative issue price per Warrants in relation to each Series is the one specified as such in Annex I.
12. Issue Date: 23 February 2007
13. Maturity Date: The Maturity Date is the date specified as such in Annex I.
14. Exchange Business Day: As set out in Condition 3
15. Business Day Centre(s): Milan
16. Valuation Date(s): The date, as determined by the Calculation Agent, is the
Maturity Date of the Warrants.
17. Settlement: Settlement will be by way of cash payment.
18. Issuer's option to vary Settlement: Not Applicable
19. Exchange Rate: The applicable rate of exchange for conversion of any amount into the Settlement Currency for the purposes of determining the Cash Settlement Amount is the European Central Bank Settlement Spot Rates, fixing of the exchange rate of the USD against the EUR at 14:15 CET on the Valuation Date, as published on the Reuters page ECB37.
20. Settlement Currency: The settlement currency for the payment of the Cash Settlement
Amount is EUR.
21. Parity: The Parity is the amount indicated as such in Annex I in relation to each Series of Warrants.
22. Rounding: As set out in Condition 4(B)(ii).
23. Principal Agent: The Principal Agent is UniCredit Banca Mobiliare S.p.A., with registered office in Xxx Xxxxxxx Xxxxxx, 00, 00000, Xxxxx, Xxxxx.
24. Calculation Agent: The Calculation Agent is UniCredit Banca Mobiliare S.p.A.,
with registered office in Xxx Xxxxxxx Xxxxxx, 00, 00000, Xxxxx, Xxxxx.
25. Paying Agent: The Paying Agent is UniCredit Banca Mobiliare S.p.A.with registered office in Xxx Xxxxxxx Xxxxxx, 00, 00000, Xxxxx, Xxxxx.
26. Exchange(s): Not Applicable
27. Exchange(s) and Index Sponsor: Not Applicable
28. Related Exchange(s): Not Applicable
29. Multiplier: Not Applicable
30. Relevant Asset(s): Not Applicable
31. Entitlement: Not Applicable
32. Settlement Price: The Settlement Price of the Commodities, as determined by the Calculation Agent, is:
(a) with respect to the Silver Commodity (as defined in Annex II), the London daily fixing price for one xxxx ounce of Silver, as calculated by the London Bullion Market Association on the Valuation Date (released at
12.00 a.m. GMT) and published on Reuters at “SIFO “(Silver); and
(b) with respect to the Gold Commodity (as defined in Annex II), the London a.m. fixing price for one xxxx ounce of Gold, as calculated by the London Bullion Market Association on the Valuation Date (released at
10.30 a.m. GMT) and published on Reuters at “GOFO” (Gold).
33. Disrupted Day: If the Valuation Date is a Disrupted Day, the Settlement Price of the Gold and Silver Commodities will be calculated by the Calculation Agent in its good faith and absolute discretion, by taking into account the market conditions, a price of the Gold and Silver Commodities estimated on the basis of last announced prices of Gold and Silver Commodities and such other conditions or factors that the Calculation Agent reasonably considers to be relevant.
34. Relevant Time: The Relevant Time for the calculation of the Settlement Price of the Silver Commodity and the Gold Commodity is the time scheduled by the London Bullion Market Association on the Valuation Date.
35. Currency: Not Applicable
36. Additional Disruption Events: Not Applicable
37. Failure to Deliver due to Illiquidity:
Not Applicable
38. Special conditions or other modifications to the Terms and Conditions:
The following paragraph shall be added to Condition 15 (D) (Terms and Conditions for Commodity Warrants) and numerated as “(2)” so that the current Condition 15 (D) “Market Disruption” shall be numerated as Condition 15 (D) (1):
(2) Potential Adjustment Events, Cessation of Trading and Other Termination Event
(a) Potential Adjustment Event
Upon the occurrence in respect of the relevant Commodity (the “Affected Commodity”) of a Potential Adjustment Event (the “Potential Adjustment Event”) the Calculation Agent shall (1) determine the appropriate adjustment, if any, to any one or more of the Conditions; and (2) determine the effective date of that adjustment. The Calculation Agent may, but need not, determine the appropriate adjustment by reference to the adjustment in respect of such Potential Adjustment Event made by a Related Exchange to options contracts or futures contracts on the relevant Commodity traded on that Related Exchange.
Upon making any such adjustment, the Calculation Agent shall give notice as soon as practicable to the Holders in accordance with Condition 10, stating the adjustment made to the Conditions and giving brief details of the Potential Adjustment Event.
"Potential Adjustment Event" means any of the following:
i) the Commodity is traded on the relevant Exchange in a different quality or another composition (for example in a different degree of purity or with a different point of origin);
ii) any other event or measure as a result of which the Commodity, as traded on the relevant Exchange, is changed or altered;
iii) options contracts or futures contracts on or relating to the Commodity as traded on any Related Exchange are altered in the manner described under the letter a) or b) above;
iv) and whether or not any event or measure is a Potential Adjustment Event shall be conclusively determined by the Calculation Agent.
(b) Cessation of Trading and Other Termination Event
i) Where the relevant Exchange for such Commodity is an exchange or a trading system or a quotation system, if the relevant Exchange announces that pursuant to the rules of such relevant Exchange, such Commodity ceases (or will cease) to be listed, traded or publicly quoted on the relevant Exchange for any reason and is not immediately re-listed, retraded or re- quoted on an exchange, trading system or quotation system acceptable to the Calculation Agent (“Cessation of Trading”); or
ii) if, after the occurrence of a Potential Adjustment Event, an adjustment in accordance with Condition 15 (D) (2) (a) above is, in the determination of the Calculation Agent, for any reason not possible or not reasonably practicable (“Other Termination Event”), the Issuer will cancel the Warrants by giving notice to Holders in accordance with Condition 10.
If the Warrants are so cancelled, the Issuer will pay an amount to each Holder in respect of each Warrant or, if Units are specified in the applicable Final Terms, each Unit, as the case may be, held by him which amount shall be the fair market value of a Warrant or a Unit, as the case may be, taking into account the Cessation of Trading or Other Termination Event, all as determined by the Calculation Agent in its sole and absolute discretion. Payment will be made in such manner as shall be notified to the Holders in accordance with General Condition 10.
Upon the occurrence of such Cessation of Trading or Other Termination Event, the Calculation Agent shall give notice as soon as practicable to the Holder in accordance with Condition 10 stating the occurrence of the Cessation of Trading or Other Termination Event. However, Holder should be aware that there may necessarily be some delay between the time at which any of the above events occur and the time at which it is reported to Holder.
39. Listing: Application will be made for the Securities to be listed on the SEDEX market of Borsa Italiana S.p.A..
40. Additional Selling Restrictions: Not Applicable
41. Syndication: Not Applicable
42. Additional or Alternative Clearing All the transactions of each Series of Warrants negotiated on
System: the SEDEX market of Borsa Italiana S.p.A. will be settled in Monte Titoli.
43. Notice provisions (other than as set out in the Terms and Conditions):
All notices to the Holders shall be valid if published by Borsa Italiana S.p.A.. All notices to the Holders shall also be published by the Calculation Agent on the website xxx.xxxxxxxxxx.xx. In the case the notices have been published both by Borsa Italiana S.p.A. and the Calculation Agent, such notices will be considered valid from the date of publication of Borsa Italiana S.p.A..
44. Governing law of the Securities: Italian law.
A.2 PROVISIONS RELATING TO THE SECURITIES
45. Type of Warrants: The Warrants are European Style Warrants.
The Warrants are Call Warrants and Put Warrants. See Annex I in relation to each Series of Warrants.
Automatic Exercise applies.
46. Units: Warrants must be exercised in Units. See Annex I in relation to each Series of Warrants.
47. Exercise Price: See Annex I in relation to each Series of Warrants.
48. Exercise Date: The Maturity Date. See Annex I in relation to each Series of Warrants. If the Maturity Date is not a Business Day, the Maturity Date shall be the immediately succeeding Business Day.
49. Exercise Period Not Applicable
50. Settlement Date: The fifth Business Day after the Valuation Date.
51. Minimum Exercise Number: The minimum number of Warrants that may be exercised by
any Holder is equal to one Unit.
52. Maximum Exercise Number: Not Applicable
53. Cash Settlement Amount: Subject as set out in the Conditions (as supplemented and/or
amended by these Final Terms), the Issuer will pay the Cash Settlement Amount to the Holders on the Settlement Date.
In relation to each Series of Warrants, the Cash Settlement Amount shall be determined by the Calculation Agent as set out in Condition 4(B)(i).
54. Settlement Business Day: Not Applicable
55. Notional Amount of each Certificate:
Not Applicable
56. Interest Payment Dates: Not Applicable
57. Interest Rate: Not Applicable
58. Interest Rate Day Count Fraction: Not Applicable
59. Renouncement Date: The Renouncement Date is the first Business Day following the
Valuation Date.
PART B – OTHER INFORMATION
B.1 CONFLICT OF INTEREST:
60. Conflicts of interest in respect of the issue:
UniCredit Banca Mobiliare S.p.A. has a conflict of interest being the arranger of the Warrants, the Calculation Agent and the Market Maker on the SEDEX market of Borsa Italiana S.p.A., where the Warrants are expected to be admitted to trading, following an application by the Issuer.
B.2 DISTRIBUTION:
61. If syndicated, names and addresses of managers and underwriting commitments:
Not Applicable
62. Date of [Subscription] Agreement: Not Applicable
63. Stabilising Manager (if any): Not Applicable
64. If non-syndicated, name and address of Manager:
Not Applicable
65. Total commission and concession: Not Applicable
66. Conditions of the Offer: Not Applicable
B.3 REASONS FOR THE OFFER, ESTIMATED NET PROCEEDS AND TOTAL EXPENSES:
67. (i) Reasons for the offer: See “Use of Proceeds” in the Prospectus.
68. (ii) Estimated net proceeds: Not Applicable
69. (iii) Estimated total expenses: Not Applicable
B.4 OPERATIONAL
INFORMATION:
70. ISIN Code: See Annex I in relation to each Series of Warrants. Each Series of Warrants is also identified by the ET Code, as specified in Annex I.
71. Common Code Not Applicable
72. Any clearing system(s) other than Euroclear Bank S.A./N.V. And Clearstream Banking Société Anonyme and the relevant identification number(s):
The Warrants are held through Monte Titoli in dematerialised form pursuant to Italian Legislative Decree no.213 of 24 June 1998, as subsequently amended and integrated. The Warrants will at all times be in book-entry form and title to Warrants will be evidenced by book entry in accordance with the provisions of the Italian Legislative Decree no. 213 of 24 June 1998, as subsequently amended and integrated. No physical document of title will be issued in respect of the Warrants.
73. Delivery: Delivery free of payment. The Warrants shall, in the first instance, be credited to the account of the Issuer with Xxxxx Xxxxxx. Payment is not made in favour of the Issuer contemporaneously with the crediting of Warrants to its account with Monte Titoli.
74. Names and addresses of additional Agent(s) (if any):
UniCredit Banca Mobiliare S.p.A., Xxx Xxxxxxx Xxxxxx, 00, 00000, Xxxxx, Xxxxx, acting as Paying Agent.
B.5 LISTING AND ADMISSION TO TRADING
APPLICATION:
This Final Terms comprise the final terms required to list the issue of Warrants described herein pursuant to the Warrant and Certificate Programme.
Xxxxx XX
Information about the Commodities
1. GOLD
1.1. General Description of the underlying
The commodity underlying the Warrants may be the London Good Delivery Gold Bullion (the Gold Commodity), as specified in Annex I. The price of the Gold Commodity is quoted in USD per fine xxxx ounce (31.1035 grams) and is available on Reuters page at [GOFO]: the price is fixed twice a day at 10:30
a.m. and 3:00 p.m. by the London Bullion Market Association. The London Bullion Market Association is the OTC market where the Gold Commodity is listed.
1.2 Historical Commodity Price (based on a.m price fixing)
Year | High (USD) | Low (USD) |
2005 | 537.5 | 411.5 |
2006 | 725.75 | 520.75 |
The price of the Gold Commodity on 31 January 2007 was USD 645.75.
Source: xxx.xxxx.xxx.xx and Reuters
1.3 Further Information
The prices, historical trend and volatility of the Gold Commodity are available at xxx.xxxxxxxxxx.xx. The current prices of the Gold Commodity are also published daily on “Il Sole 24 Ore”, on xxx.xxxxxxxxxx.xx and may be requested on any Business Day by calling 000.00.00.00 (call free).
Further information on the Gold Commodity may be obtained from the London Bullion Market Association at the address and website specified below:
The London Bullion Market Association 00 Xxxxxxxxxx Xxxxxx
Xxxxxx XX0X 0XX
Telephone: x00 (0)00 0000 0000
Fax: x00 (0)00 0000 0000
2. SILVER
2.1 General Description of the underlying
The commodity underlying the Warrants may be the London Good Delivery Silver Bullion (the Silver Commodity), as specified in Annex I. The price of the Silver Commodity is quoted in USD per fine xxxx ounce (31.1035 grams) and is available on Reuters page at: [SIFO]: the price is fixed daily at 12 noon by the London Bullion Market Association. The London Bullion Market Association is the OTC market where the Silver Commodity is listed.
2.2 Historical Commodity Price
Year | High (USD) | Low (USD) |
2005 | 9.225 | 6.39 |
2006 | 14.94 | 8.83 |
The price of the Silver Commodity on 31 January 2007 was USD 12.839636.
Source: xxx.xxxx.xxx.xx and Reuters
2.3 Further Information
The prices, historical trend and volatility of the Silver Commodity are available at xxx.xxxxxxxxxx.xx. The current prices of the Silver Commodity are also published daily on “Il Sole 24 Ore”, on xxx.xxxxxxxxxx.xx and may be requested on any Business Day by calling 000.00.00.00 (call free).
Further information on the Silver Commodity may be obtained from the London Bullion Market Association at the address and website specified below:
The London Bullion Market Association 00 Xxxxxxxxxx Xxxxxx
Xxxxxx XX0X 0XX
Telephone: x00 (0)00 0000 0000
Fax: x00 (0)00 0000 0000
Xxxxx XXX Renouncement Notice
DICHIARAZIONE DI RINUNCIA ALL’ESERCIZIO (FACSIMILE)
(da compilare su carta intestata)
A: UniCredit Banca Mobiliare S.p.A.
Fax 02/8862.2666
Tel 02/8862.2746 - 02/8862.2736
Covered warrant su ………….. scad. ………… emessi da UniCredito Italiano S.p.A. (i “covered warrant”)
L’intermediario
,
che detiene in custodia i covered warrant per conto della propria clientela, con la presente comunica, in nome proprio e per conto della suddetta propria clientela, la volontà di rinuncia all’esercizio dei diritti garantiti dal covered warrant come da indicazione contenuta nei Terms & Conditions dei Warrants.
Codice ISIN dei covered warrant per i quali rinuncia, per conto della propria clientela, all’esercizio dei covered warrant a scadenza:
Numero di covered warrant per i quali rinuncia, per conto della propria clientela, all’esercizio dei covered warrant a scadenza:
Il sottoscritto è consapevole che la presente dichiarazione di rinuncia all’esercizio a scadenza non è valida qualora non siano rispettati i requisiti indicati nei Terms & Conditions dei Warrants. Questo vale anche qualora la dichiarazione non dovesse essere consegnata in tempo utile a UniCredit Banca Mobiliare S.p.A.
Luogo Data
Firma (firme) del legale rappresentante dell’intermediario
Annex IV Voluntary Exercise Notice
DICHIARAZIONE DI ESERCIZIO (FACSIMILE)
(da compilare su carta intestata)
A: UniCredit Banca Mobiliare S.p.A. Fax 02/8862.2666
Tel 02/8862.2746 - 02/8862.2736
covered warrant su ………… scad emessi da UniCredito Italiano S.p.A.
L’intermediario
che detiene in custodia i covered warrant per conto della propria clientela con la presente esercita in modo irrevocabile i diritti garantiti dal covered warrant come da indicazione contenuta nei Terms & Conditions dei Warrants.
Codice ISIN dei covered warrant da esercitare:
Numero di covered warrant da esercitare:
i covered warrant da esercitare sono stati trasferiti sul conto N. 63307 di 2S Banca presso Monte Titoli S.p.A.;
A - ordina irrevocabilmente a UniCredit Banca Mobiliare S.p.A. di trasmettere l'importo della differenza al seguente conto in Euro intestato a:
Titolare del conto
numero c/c
presso Istituto Bancario – ABI + CAB
B - ordina irrevocabilmente a UniCredit Banca Mobiliare S.p.A. di accreditare l’importo in Euro della differenza tramite stanza di compensazione giornaliera:
intestazione beneficiario
codice SIA
Il sottoscritto è consapevole che:
1. con la presente Dichiarazione di Esercizio esercita in modo irrevocabile i covered warrant con le caratteristiche precedentemente descritte che detiene in custodia per conto della propria clientela secondo le modalità previste nei Terms & Conditions dei Warrants;
2. nel momento in cui la Dichiarazione di Esercizio è ricevuta dall’Agente di Calcolo, non sarà possibile, per nessuna ragione, richiederne l’annullamento;
3. è esclusa la revoca della Dichiarazione di Esercizio;
4. deve adempiere ai seguenti obblighi: a) far pervenire la presente Dichiarazione di Esercizio entro le ore
10.00 (ora di Milano) del giorno in cui intende esercitare i covered warrant; b) provvedere al trasferimento dei covered warrant in relazione ai quali é inviata la presente Dichiarazione di Esercizio entro le ore 17.00 (ora di Milano) del giorno della richiesta di esercizio sul conto di 2S Banca, presso Monte Titoli S.p.A., n. 63307; c) trasferire i covered warrant in modo da rendere possibile una chiara correlazione alla Dichiarazione D'esercizio.
Luogo Data
Firma (firme) del legale rappresentante dell’intermediario
Final Terms dated 19 February 2007
UNICREDITO ITALIANO S.p.A.
(the "Issuer")
Issue of Euro 5,010,400 Warrants linked to Commodities Futures under its Euro 8,000,000,000 Warrant and Certificate Programme
This document constitutes the Final Terms relating to the issue of Securities described herein and final terms for the purposes of Article 5.4 of the Prospectus Directive (Directive 2003/71/EC) (the Prospectus Directive).
Terms used herein shall be deemed to be defined as such for the purposes of the Terms and Conditions set forth in the Prospectus dated 14 December 2006.This Final Terms contains the final terms of the Securities described herein and must be read in conjunction with such Prospectus in order to obtain full information on the Issuer and the Securities themselves. Copies of such Prospectus are available free of charge to the public during normal business hours at the registered office of the Issuer and in an electronic form on the website of the Issuer at xxx.xxxxxxxxxx.xx and on the website of the Borsa Italiana S.p.A. Stock Exchange at xxx.xxxxxxxxxxx.xx.
Save as disclosed in "Offering and Sale", so far as the Issuer is aware, no person involved in the offer of the Securities has an interest material to the offer.
References herein to numbered Conditions are to the Terms and Conditions of the Warrants and the Terms and Conditions of the Certificates and words and expressions defined in such terms and conditions shall bear the same meaning in this Final Terms, save as where otherwise expressly provided.
The securities are derivative instruments and, therefore, may not be a suitable investment for all investors.
Before making any investment decision, potential purchasers of the Securities described herein should carefully consider the risk factors described in the Prospectus and Annex below, and should base such a decision on a thorough review of the entire Prospectus, including all documents incorporated by reference therein.
The information concerning to risks involved in the investment in the Securities is not part of the Terms and Conditions.
The order and extent of the risks descriptions under Xxxxx herein and in the Prospectus are not intended to be an indication of the scope of the financial consequences of any given risk, should it realise, nor an indication of the likelihood that any of the risks described will realise. Various risks may occur in combination and reinforce one another.
The general risk overview in the Prospectus and the additional specific risks described in Annex herein are not meant to replace the investor’s individual consultation with its own financial advisor(s) prior to making
any investment decision. Potential investors' financial advisors should be able to provide further information on transactions involving futures and options and the risks associated therewith.
The Securities are based on complex mathematical structures, which may not be readily intelligible to the investor. In addition, there is the possibility that the investor may underestimate the true risk associated with a purchase of Securities. Potential investors should therefore ensure that they have gained a thorough understanding of the Securities described herein.
Before purchasing Securities, potential investors should carefully review their financial situation to make sure that they can bear the risks of loss associated with the Securities, also including, in several cases, the risk of a total loss of their investment.
The Issuer (the Responsible Person) accepts responsibility for the information contained in this Final Terms. To the best of the knowledge and belief of the Issuer, which has taken all reasonable care to ensure that such is the case, the information contained in this Final Terms is in accordance with the facts and does not omit anything likely to affect the import of such information.
CONTRACTUAL TERMS
A.1 GENERAL PROVISIONS
1. Issuer: UniCredito Italiano S.p.A.
2. Series Number: The Series Number of the Warrants is as specified in Annex I.
3. Tranche: The Tranche of each Series of Warrants is specified in Annex I.
4. Consolidation: Not Applicable
5. Type of Securities: (i) The Securities are Warrants.
(ii) The Securities are Commodity Future Warrants.
(iii) The Securities relate to Commodities Futures (the Commodities Futures), as specified in Annex I. See also Xxxxx XX for a description of the Commodities Futures.
6. Form of Securities: No Securities in definitive form will be issued. No physical
document of title will be issued to represent the Securities. On issue, the Securities will be registered in the books of Monte Titoli. Despite of the relevant clearing system, the Securities will be held in bearer form on behalf of the beneficial owners until settlement and cancellation thereof.
7. Status of the Securities: Direct, unsubordinated and unsecured.
8. Admission to trading: Application has been made for the Warrants of each Series to
be admitted to trading on the SEDEX market of Borsa Italiana
S.p.A..
UniCredit Banca Mobiliare S.p.A., xxx Xxxxxxx Xxxxxx 00, 00000 Xxxxx (Xxxxx), (the Market Maker) has undertaken to provide liquidity through bid and offer quotes in accordance with the market making rules of Borsa Italiana S.p.A., where the Warrants of each Series are expected to be listed. The obligations of the Market Maker are regulated by the Rules of the markets organized and managed by Borsa Italiana, and the relevant Instructions to such rules.
9. Averaging: Not Applicable
10. Number of Securities being issued: See Annex I in relation to each Series of Warrants.
11. Issue Price: The indicative issue price per Warrants in relation to each Series is the one specified as such in Annex I.
12. Issue Date: 23 February 2007
13. Maturity Date: The Maturity Date is the date specified as such in Annex I.
14. Exchange Business Day: As set out in Condition 3
15. Business Day Centre(s): Milan
16. Valuation Date(s): The date, as determined by the Calculation Agent, is the
Maturity Date of the Warrants.
17. Settlement: Settlement will be by way of cash payment.
18. Issuer's option to vary Settlement: Not Applicable
19. Exchange Rate: The applicable rate of exchange for conversion of any amount into the Settlement Currency for the purposes of determining the Cash Settlement Amount is the European Central Bank Settlement Spot Rates, fixing of the exchange rate of the USD against the EUR at 14:15 CET on the Valuation Date, as published on the Reuters page ECB37.
20. Settlement Currency: The settlement currency for the payment of the Cash Settlement
Amount is EUR.
21. Parity: The Parity is the amount indicated as such in Annex I in relation to each Series of Warrants.
22. Rounding: As set out in Condition 4(B)(ii).
23. Principal Agent: The Principal Agent is UniCredit Banca Mobiliare S.p.A., with
registered office in Xxx Xxxxxxx Xxxxxx, 00, 00000, Xxxxx, Xxxxx.
24. Calculation Agent: The Calculation Agent is UniCredit Banca Mobiliare S.p.A.,
with registered office in Xxx Xxxxxxx Xxxxxx, 00, 00000, Xxxxx, Xxxxx.
25. Paying Agent: The Paying Agent is UniCredit Banca Mobiliare S.p.A.with registered office in Xxx Xxxxxxx Xxxxxx, 00, 00000, Xxxxx, Xxxxx.
26. Exchange(s): Not Applicable
27. Exchange(s) and Index Sponsor: Not Applicable
28. Related Exchange(s): Not Applicable
29. Multiplier: Not Applicable
30. Relevant Asset(s): Not Applicable
31. Entitlement: Not Applicable
32. Settlement Price: The Settlement Price of the WTI Light Sweet Crude Oil
Commodity Future, as determined by the Calculation Agent, is the official closing price calculated by the NYMEX Exchange on the Valuation Date (released at 02.30 p.m. New York time) and published on Reuters at “CLN7” and “CLZ7”.
33. Disrupted Day: If the Valuation Date is a Disrupted Day, the Settlement Price of the WTI Light Sweet Crude Oil Commodity Future will be calculated by the NYMEX Exchange on such date and in such manner according to its applicable regulations.
34. Relevant Time: The Relevant Time for the calculation of the Settlement Price of the WTI Light Sweet Crude Oil Commodity Future is the time scheduled by the NYMEX Exchange on the Valuation Date.
35. Currency: Not Applicable
36. Additional Disruption Events: Not Applicable
37. Failure to Deliver due to Illiquidity:
Not Applicable
38. Special conditions or other modifications to the Terms and
The following paragraph shall be added to Condition (15) and shall be denominated “Terms and Conditions for Commodity
Conditions: Future Warrants and Government Bond Future” and numerated as Condition 15 (G) (1):
(1) Potential Adjustment Events, Cessation of Trading and Other Termination Event
(a) Potential Adjustment Event
Upon the occurrence in respect of the relevant Commodity Future (the “Affected Commodity Future”) of a Potential Adjustment Event (the “Potential Adjustment Event”) the Calculation Agent shall (1) determine the appropriate adjustment, if any, to any one or more of the Conditions; and
(2) determine the effective date of that adjustment.
Upon making any such adjustment, the Calculation Agent shall give notice as soon as practicable to the Holders in accordance with Condition 10, stating the adjustment made to the Conditions and giving brief details of the Potential Adjustment Event.
"Potential Adjustment Event" means any of the following:
i) any event or measure as a result of which the Commodity Future, as traded on the relevant Exchange, is changed or altered;
ii) and whether or not any event or measure is a Potential Adjustment Event shall be conclusively determined by the Calculation Agent.
(b) Cessation of Trading and Other Termination Event
i) Where the relevant Exchange for such Commodity Future is an exchange or a trading system or a quotation system, if the relevant Exchange announces that pursuant to the rules of such relevant Exchange, such Commodity Future ceases (or will cease) to be listed, traded or publicly quoted on the relevant Exchange for any reason and is not immediately re-listed, retraded or re-quoted on an exchange, trading system or quotation system acceptable to the Calculation Agent (“Cessation of Trading”); or
ii) if, after the occurrence of a Potential Adjustment Event, an adjustment in accordance with Condition 15 (G) (2) (a) above is, in the determination of the Calculation Agent, for any reason not possible or not reasonably practicable (“Other Termination Event”), the Issuer will cancel the Warrants by giving notice to Holders in accordance with Condition 10.
If the Warrants are so cancelled, the Issuer will pay an amount to each Holder in respect of each Warrant or, if Units are specified in the applicable Final Terms, each Unit, as the case may be, held by him which amount shall be the fair market value of a Warrant or a Unit, as the case may be, taking into account the Cessation of Trading or Other Termination Event, all as determined by the Calculation Agent in its sole and absolute discretion. Payment will be made in such manner as
Condition 10.
Upon the occurrence of such Cessation of Trading or Other Termination Event, the Calculation Agent shall give notice as soon as practicable to the Holder in accordance with Condition 10 stating the occurrence of the Cessation of Trading or Other Termination Event. However, Holder should be aware that there may necessarily be some delay between the time at which any of the above events occur and the time at which it is reported to Holder.
39. Listing: Application will be made for the Securities to be listed on the SEDEX market of Borsa Italiana S.p.A..
40. Additional Selling Restrictions: Not Applicable
41. Syndication: Not Applicable
42. Additional or Alternative Clearing System:
All the transactions of each Series of Warrants negotiated on the SEDEX market of Borsa Italiana S.p.A. will be settled in Monte Titoli.
43. Notice provisions (other than as set out in the Terms and Conditions):
All notices to the Holders shall be valid if published by Borsa Italiana S.p.A.. All notices to the Holders shall also be published by the Calculation Agent on the website xxx.xxxxxxxxxx.xx. In the case the notices have been published both by Borsa Italiana S.p.A. and the Calculation Agent, such notices will be considered valid from the date of publication of Borsa Italiana S.p.A..
44. Governing law of the Securities: Italian law.
A.2 PROVISIONS RELATING TO THE SECURITIES
45. Type of Warrants: The Warrants are European Style Warrants.
The Warrants are Call Warrants and Put Warrants. See Annex I in relation to each Series of Warrants.
Automatic Exercise applies.
46. Units: Warrants must be exercised in Units. See Annex I in relation to each Series of Warrants.
47. Exercise Price: See Annex I in relation to each Series of Warrants.
48. Exercise Date: The Maturity Date. See Annex I in relation to each Series of Warrants. If the Maturity Date is not a Business Day, the
Day.
49. Exercise Period Not Applicable
50. Settlement Date: The fifth Business Day after the Valuation Date.
51. Minimum Exercise Number: The minimum number of Warrants that may be exercised by
any Holder is equal to one Unit.
52. Maximum Exercise Number: Not Applicable
53. Cash Settlement Amount: Subject as set out in the Conditions (as supplemented and/or
amended by these Final Terms), the Issuer will pay the Cash Settlement Amount to the Holders on the Settlement Date.
In relation to each Series of Warrants, the Cash Settlement Amount shall be determined by the Calculation Agent as set out in Condition 4(B)(i).
54. Settlement Business Day: Not Applicable
55. Notional Amount of each Certificate:
Not Applicable
56. Interest Payment Dates: Not Applicable
57. Interest Rate: Not Applicable
58. Interest Rate Day Count Fraction: Not Applicable
59. Renouncement Date: The Renouncement Date is the first Business Day following the
Valuation Date.
PART B – OTHER INFORMATION
B.1 CONFLICT OF INTEREST:
60. Conflicts of interest in respect of the issue:
UniCredit Banca Mobiliare S.p.A. has a conflict of interest being the arranger of the Warrants, the Calculation Agent and the Market Maker on the SEDEX market of Borsa Italiana S.p.A., where the Warrants are expected to be admitted to trading, following an application by the Issuer.
B.2 DISTRIBUTION:
61. If syndicated, names and addresses Not Applicable
of managers and underwriting commitments:
62. Date of [Subscription] Agreement: Not Applicable
63. Stabilising Manager (if any): Not Applicable
64. If non-syndicated, name and address of Manager:
Not Applicable
65. Total commission and concession: Not Applicable
66. Conditions of the Offer: Not Applicable
B.3 REASONS FOR THE OFFER, ESTIMATED NET PROCEEDS AND TOTAL EXPENSES:
67. (i) Reasons for the offer: See “Use of Proceeds” in the Prospectus.
68. (ii) Estimated net proceeds: Not Applicable
69. (iii) Estimated total expenses: Not Applicable
B.4 OPERATIONAL
INFORMATION:
70. ISIN Code: See Annex I in relation to each Series of Warrants. Each Series of Warrants is also identified by the ET Code, as specified in Annex I.
71. Common Code Not Applicable
72. Any clearing system(s) other than Euroclear Bank S.A./N.V. And Clearstream Banking Société Anonyme and the relevant identification number(s):
The Warrants are held through Monte Titoli in dematerialised form pursuant to Italian Legislative Decree no.213 of 24 June 1998, as subsequently amended and integrated. The Warrants will at all times be in book-entry form and title to Warrants will be evidenced by book entry in accordance with the provisions of the Italian Legislative Decree no. 213 of 24 June 1998, as subsequently amended and integrated. No physical document of title will be issued in respect of the Warrants.
73. Delivery: Delivery free of payment. The Warrants shall, in the first instance, be credited to the account of the Issuer with Xxxxx Xxxxxx. Payment is not made in favour of the Issuer contemporaneously with the crediting of Warrants to its account with Monte Titoli.
Xxxxx XX
Information about the Commodities Futures
1. WTI LIGHT SWEET CRUDE OIL FUTURE
1.1 General Description of the underlying
The commodity future underlying the Warrants may be the WTI light sweet crude oil future contract (the WTI Light Sweet Crude Oil Commodity Future), as specified in Annex I. The WTI Light Sweet Crude Oil Commodity Future is a crude oil futures contract on the West Texas Intermediate crude oil traded on NYMEX – The New York Mercantile Exchange.
Crude oil is the world’s most actively traded commodity and the NYMEX Division light sweet crude oil futures contract is the world’s most liquid forum for crude oil trading, as well as the world’s largest-volume futures contract trading on a physical commodity. Because of its excellent liquidity and price transparency, the light sweet crude oil futures contract is used as a principal international pricing benchmark. The light sweet crude oil futures contract trades in units of 1,000 barrels; its delivery point is Cushing, Oklahoma, which is also accessible to the international spot markets via pipelines. The light sweet crude oil futures contract provides for delivery of several grades of domestic and internationally traded foreign crudes, and serves the diverse needs of the physical market.
1.2 Historical Commodity Price
(i) WTI Light Sweet Crude Oil Future July 2007
Year | High (USD) | Low (USD) |
2005 | 67.04 | 43.69 |
2006 | 80.86 | 64.01 |
The price of the WTI Light Sweet Crude Oil Commodity Future July 2007 on 31 January 2007 was USD
60.67 Source: xxx.xxxxx.xxx and Reuters
(ii) WTI Light Sweet Crude Oil Future December 2007
Year | High (USD) | Low (USD) |
2005 | 65.33 | 41.74 |
2006 | 66.79 | 77.99 |
The price of the WTI Light Sweet Crude Oil Commodity Future December 2007 on 31 January 2007 was USD 63.52. Source: xxx.xxxxx.xxx and Reuters
1.3 Further Information
The prices, historical trend and volatility of the WTI Light Sweet Crude Oil Commodity Future are available at xxx.xxxxxxxxxx.xx. The current prices of the WTI Light Sweet Crude Oil Commodity Future are also published daily on xxx.xxxxxxxxxx.xx and may be requested on any Business Day by calling 000.00.00.00 (call free).
Further information on the WTI Light Sweet Crude Oil Commodity Future may be obtained from the NYMEX Exchange's website at xxx.xxxxx.xxx.
Xxxxx XXX Renouncement Notice
DICHIARAZIONE DI RINUNCIA ALL’ESERCIZIO (FACSIMILE)
(da compilare su carta intestata)
A: UniCredit Banca Mobiliare S.p.A.
Fax 02/8862.2666
Tel 02/8862.2746 - 02/8862.2736
Covered warrant su ………….. scad. ………… emessi da UniCredito Italiano S.p.A. (i “covered warrant”)
L’intermediario
,
che detiene in custodia i covered warrant per conto della propria clientela, con la presente comunica, in nome proprio e per conto della suddetta propria clientela, la volontà di rinuncia all’esercizio dei diritti garantiti dal covered warrant come da indicazione contenuta nei Terms & Conditions dei Warrants.
Codice ISIN dei covered warrant per i quali rinuncia, per conto della propria clientela, all’esercizio dei covered warrant a scadenza:
Numero di covered warrant per i quali rinuncia, per conto della propria clientela, all’esercizio dei covered warrant a scadenza:
Il sottoscritto è consapevole che la presente dichiarazione di rinuncia all’esercizio a scadenza non è valida qualora non siano rispettati i requisiti indicati nei Terms & Conditions dei Warrants. Questo vale anche qualora la dichiarazione non dovesse essere consegnata in tempo utile a UniCredit Banca Mobiliare S.p.A.
Luogo Data
Firma (firme) del legale rappresentante dell’intermediario
Annex IV Voluntary Exercise Notice
DICHIARAZIONE DI ESERCIZIO (FACSIMILE)
(da compilare su carta intestata)
A: UniCredit Banca Mobiliare S.p.A. Fax 02/8862.2666
Tel 02/8862.2746 - 02/8862.2736
covered warrant su ………… scad emessi da UniCredito Italiano S.p.A.
L’intermediario
che detiene in custodia i covered warrant per conto della propria clientela con la presente esercita in modo irrevocabile i diritti garantiti dal covered warrant come da indicazione contenuta nei Terms & Conditions dei Warrants.
Codice ISIN dei covered warrant da esercitare:
Numero di covered warrant da esercitare:
i covered warrant da esercitare sono stati trasferiti sul conto N. 63307 di 2S Banca presso Monte Titoli S.p.A.;
A - ordina irrevocabilmente a UniCredit Banca Mobiliare S.p.A. di trasmettere l'importo della differenza al seguente conto in Euro intestato a:
Titolare del conto
numero c/c
presso Istituto Bancario – ABI + CAB
B - ordina irrevocabilmente a UniCredit Banca Mobiliare S.p.A. di accreditare l’importo in Euro della differenza tramite stanza di compensazione giornaliera:
intestazione beneficiario
codice SIA
Il sottoscritto è consapevole che:
1. con la presente Dichiarazione di Esercizio esercita in modo irrevocabile i covered warrant con le caratteristiche precedentemente descritte che detiene in custodia per conto della propria clientela secondo le modalità previste nei Terms & Conditions dei Warrants;
2. nel momento in cui la Dichiarazione di Esercizio è ricevuta dall’Agente di Calcolo, non sarà possibile, per nessuna ragione, richiederne l’annullamento;
3. è esclusa la revoca della Dichiarazione di Esercizio;
4. deve adempiere ai seguenti obblighi: a) far pervenire la presente Dichiarazione di Esercizio entro le ore
10.00 (ora di Milano) del giorno in cui intende esercitare i covered warrant; b) provvedere al trasferimento dei covered warrant in relazione ai quali é inviata la presente Dichiarazione di Esercizio entro le ore 17.00 (ora di Milano) del giorno della richiesta di esercizio sul conto di 2S Banca, presso Monte Titoli S.p.A., n. 63307; c) trasferire i covered warrant in modo da rendere possibile una chiara correlazione alla Dichiarazione D'esercizio.
Luogo Data
Firma (firme) del legale rappresentante dell’intermediario
Final Terms dated 19 February 2007
UNICREDITO ITALIANO S.p.A.
(the "Issuer")
Issue of Euro 3,871,800 Warrants linked to Currencies under its Euro 8,000,000,000 Warrant and Certificate Programme
This document constitutes the Final Terms relating to the issue of Securities described herein and final terms for the purposes of Article 5.4 of the Prospectus Directive (Directive 2003/71/EC) (the Prospectus Directive).
Terms used herein shall be deemed to be defined as such for the purposes of the Terms and Conditions set forth in the Prospectus dated 14 December 2006. This Final Terms contains the final terms of the Securities described herein and must be read in conjunction with such Prospectus in order to obtain full information on the Issuer and the Securities themselves. Copies of such Prospectus are available free of charge to the public during normal business hours at the registered office of the Issuer and in an electronic form on the website of the Issuer at xxx.xxxxxxxxxx.xx and on the website of the Borsa Italiana S.p.A. Stock Exchange at xxx.xxxxxxxxxxx.xx.
Save as disclosed in "Offering and Sale", so far as the Issuer is aware, no person involved in the offer of the Securities has an interest material to the offer.
References herein to numbered Conditions are to the Terms and Conditions of the Warrants and the Terms and Conditions of the Certificates and words and expressions defined in such terms and conditions shall bear the same meaning in this Final Terms, save as where otherwise expressly provided.
The securities are derivative instruments and, therefore, may not be a suitable investment for all investors.
Before making any investment decision, potential purchasers of the Securities described herein should carefully consider the risk factors described in the Prospectus and Annex below, and should base such a decision on a thorough review of the entire Prospectus, including all documents incorporated by reference therein.
The information concerning to risks involved in the investment in the Securities is not part of the Terms and Conditions.
The order and extent of the risks descriptions under Xxxxx herein and in the Prospectus are not intended to be an indication of the scope of the financial consequences of any given risk, should it realise, nor an indication of the likelihood that any of the risks described will realise. Various risks may occur in combination and reinforce one another.
The general risk overview in the Prospectus and the additional specific risks described in Annex herein are not meant to replace the investor’s individual consultation with its own financial advisor(s) prior to making
any investment decision. Potential investors' financial advisors should be able to provide further information on transactions involving futures and options and the risks associated therewith.
The Securities are based on complex mathematical structures, which may not be readily intelligible to the investor. In addition, there is the possibility that the investor may underestimate the true risk associated with a purchase of Securities. Potential investors should therefore ensure that they have gained a thorough understanding of the Securities described herein.
Before purchasing Securities, potential investors should carefully review their financial situation to make sure that they can bear the risks of loss associated with the Securities, also including, in several cases, the risk of a total loss of their investment.
The Issuer (the Responsible Person) accepts responsibility for the information contained in this Final Terms. To the best of the knowledge and belief of the Issuer, which has taken all reasonable care to ensure that such is the case, the information contained in this Final Terms is in accordance with the facts and does not omit anything likely to affect the import of such information.
CONTRACTUAL TERMS
A.1 GENERAL PROVISIONS
1. Issuer: UniCredito Italiano S.p.A.
2. Series Number: The Series Number of the Warrants is as specified in Annex I.
3. Tranche: The Tranche of each Series of Warrants is specified in Annex I.
4. Consolidation: Not Applicable
5. Type of Securities: (i) The Securities are Warrants.
(ii) The Securities are Currency Warrants.
(iii) The Securities relate to Currencies (the Currency or the Currencies), as specified in Annex I. See also Xxxxx XX for a description of the Currencies.
6. Form of Securities: No Securities in definitive form will be issued. No physical
document of title will be issued to represent the Securities. On issue, the Securities will be registered in the books of Monte Titoli. Despite of the relevant clearing system, the Securities will be held in bearer form on behalf of the beneficial owners until settlement and cancellation thereof.
7. Status of the Securities: Direct, unsubordinated and unsecured.
8. Admission to trading: Application has been made for the Warrants of each Series to
be admitted to trading on the SEDEX market of Borsa Italiana S.p.A..
UniCredit Banca Mobiliare S.p.A., xxx Xxxxxxx Xxxxxx 00, 00000 Xxxxx (Xxxxx), (the Market Maker) has undertaken to provide liquidity through bid and offer quotes in accordance with the market making rules of Borsa Italiana S.p.A., where the Warrants of each Series are expected to be listed. The obligations of the Market Maker are regulated by the Rules of the markets organized and managed by Borsa Italiana, and the relevant Instructions to such rules.
9. Averaging: Not Applicable
10. Number of Securities being issued: See Annex I in relation to each Series of Warrants.
11. Issue Price: The indicative issue price per Warrants in relation to each Series is the one specified as such in Annex I.
12. Issue Date: 23 February 2007
13. Maturity Date: The Maturity Date is the date specified as such in Annex I.
14. Exchange Business Day: As set out in Condition 3
15. Business Day Centre(s): Milan
16. Valuation Date(s): The date, as determined by the Calculation Agent, is:
(a) in the case of Automatic Exercise, the Maturity Date of the Warrants;
(b) in the case of exercise of the Warrant during the Exercise Period, one Business Day immediately succeeding the Actual Exercise Date.
17. Settlement: Settlement will be by way of cash payment.
18. Issuer's option to vary Settlement: Not Applicable
19. Exchange Rate: The applicable rate of exchange for conversion of any amount into the Settlement Currency for the purposes of determining the Cash Settlement Amount is:
- with respect to the EUR/JPY Currency, the rate calculated as cross rate between the fixing EUR/USD and USD/JPY on the Valuation Date, both published by the Federal Reserve Bank of New York (10 a.m. of New York) on Reuters at page “1FED”; and
- with respect to the EUR/USD Currency, the Fixing of the EUR/USD on the Valuation Date, as published by the Federal Reserve Bank of New York (10 a.m. of New York)
on Reuters at page “1FED”.
20. Settlement Currency: The settlement currency for the payment of the Cash Settlement
Amount is EUR.
21. Parity: The Parity is the amount indicated as such in Annex I in relation to each Series of Warrants.
22. Rounding: As set out in Condition 4(B)(ii).
23. Principal Agent: The Principal Agent is UniCredit Banca Mobiliare S.p.A., with registered office in Xxx Xxxxxxx Xxxxxx, 00, 00000, Xxxxx, Xxxxx.
24. Calculation Agent: The Calculation Agent is UniCredit Banca Mobiliare S.p.A.,
with registered office in Xxx Xxxxxxx Xxxxxx, 00, 00000, Xxxxx, Xxxxx.
25. Paying Agent: The Paying Agent is UniCredit Banca Mobiliare S.p.A.with registered office in Xxx Xxxxxxx Xxxxxx, 00, 00000, Xxxxx, Xxxxx.
26. Exchange(s): Not Applicable
27. Exchange(s) and Index Sponsor: Not Applicable
28. Related Exchange(s): Not Applicable
29. Multiplier: Not Applicable
30. Relevant Asset(s): Not Applicable
31. Entitlement: Not Applicable
32. Settlement Price: The Settlement Price of the Currencies, as determined by the Calculation Agent, is:
- with respect to the EUR/JPY Currency, the rate calculated as cross rate between the fixing EUR/USD and USD/JPY, both published by the Federal Reserve Bank of New York (10 a.m. of New York) on the Valuation Date on Reuters at page “1FED”;
- with respect to the EUR/USD Currency, the Fixing of the EUR/USD, published by the Federal Reserve Bank of New York (10 a.m. of New York) on the Valuation Date on Reuters at page “1FED”.
33. Disrupted Day: If the Valuation Date is a Disrupted Day, Condition 3 shall apply.
34. Relevant Time: The Relevant Time for the calculation of the Settlement Price of the Currencies is the scheduled time specified by the Federal Reserve Bank of New York on the Valuation Date.
35. Currency: (i) The Relevant Screen Page is:
− with respect to the EUR/JPY Currency, “EURJPY=”;
− with respect to the EUR/USD Currency, “EUR=”.
(ii) The relevant base currency (the Base Currency) is EUR.
(iii) The relevant subject currencies (the Subject Currency) are JPY and USD.
36. Additional Disruption Events: Not Applicable
37. Failure to Deliver due to Illiquidity:
Not Applicable
38. Special conditions or other modifications to the Terms and Conditions:
Not Applicable
39. Additional Selling Restrictions: Not Applicable
40. Syndication: Not Applicable
41. Additional or Alternative Clearing System:
All the transactions of each Series of Warrants negotiated on the SEDEX market of Borsa Italiana S.p.A. will be settled in Monte Titoli.
42. Notice provisions (other than as set out in the Terms and Conditions):
All notices to the Holders shall be valid if published by Borsa Italiana S.p.A.. All notices to the Holders shall also be published by the Calculation Agent on the website xxx.xxxxxxxxxx.xx. In the case the notices have been published both by Borsa Italiana S.p.A. and the Calculation Agent, such notices will be considered valid from the date of publication of Borsa Italiana S.p.A..
43. Governing law of the Securities: Italian law.
A.2 PROVISIONS RELATING TO THE SECURITIES
44. Type of Warrants: The Warrants are American Style Warrants.
The Warrants are Call Warrants and Put Warrants. See Annex I
in relation to each Series of Warrants. Automatic Exercise applies.
45. Units: Warrants must be exercised in Units. See Annex I in relation to each Series of Warrants.
46. Exercise Price: See Annex I in relation to each Series of Warrants.
47. Exercise Date: Not Applicable
48. Exercise Period The exercise period in respect of the Warrants is from and including the Issue Date to and including one Exercise Business Day immediately preceding the Maturity Date (10.00 a.m. Milan time).
49. Settlement Date: The fifth Business Day after the Valuation Date.
50. Minimum Exercise Number: The minimum number of Warrants that may be exercised by
any Holder is equal to one Unit.
51. Maximum Exercise Number: Not Applicable
52. Cash Settlement Amount: Subject as set out in the Conditions (as supplemented and/or
amended by these Final Terms), the Issuer will pay the Cash Settlement Amount to the Holders on the Settlement Date.
In relation to each Series of Warrants, the Cash Settlement Amount shall be determined by the Calculation Agent as set out in Condition 4(B)(i).
53. Settlement Business Day: Not Applicable
54. Notional Amount of each Certificate:
Not Applicable
55. Interest Payment Dates: Not Applicable
56. Interest Rate: Not Applicable
57. Interest Rate Day Count Fraction: Not Applicable
58. Renouncement Date: The Renouncement Date is the first Business Day following the
Valuation Date.
PART B – OTHER INFORMATION
B.1 CONFLICT OF INTEREST:
59. Conflicts of interest in respect of the issue:
UniCredit Banca Mobiliare S.p.A. has a conflict of interest being the arranger of the Warrants, the Calculation Agent and
the Market Maker on the SEDEX market of Borsa Italiana S.p.A., where the Warrants are expected to be admitted to trading, following an application by the Issuer.
B.2 DISTRIBUTION:
60. If syndicated, names and addresses of managers and underwriting commitments:
Not Applicable
61. Date of [Subscription] Agreement: Not Applicable
62. Stabilising Manager (if any): Not Applicable
63. If non-syndicated, name and address of Manager:
Not Applicable
64. Total commission and concession: Not Applicable
65. Conditions of the Offer: Not Applicable
B.3 REASONS FOR THE OFFER, ESTIMATED NET PROCEEDS AND TOTAL EXPENSES:
66. (i) Reasons for the offer: See “Use of Proceeds” in the Prospectus.
67. (ii) Estimated net proceeds: Not Applicable
68. (iii) Estimated total expenses: Not Applicable
B.4 OPERATIONAL
INFORMATION:
69. ISIN Code: See Annex I in relation to each Series of Warrants. Each Series of Warrants is also identified by the ET Code, as specified in Annex I.
70. Common Code Not Applicable
71. Any clearing system(s) other than Euroclear Bank S.A./N.V. And Clearstream Banking Société Anonyme and the relevant identification number(s):
The Warrants are held through Monte Titoli in dematerialised form pursuant to Italian Legislative Decree no.213 of 24 June 1998, as subsequently amended and integrated. The Warrants will at all times be in book-entry form and title to Warrants will be evidenced by book entry in accordance with the provisions of the Italian Legislative Decree no. 213 of 24 June 1998, as subsequently amended and integrated. No physical document of title will be issued in respect of the Warrants.
Information about the Currencies
The current prices of the Currencies are published daily on “Il Sole 24 Ore” and “MF”, on xxx.xxxxxxxxxx.xx and may be requested on any Business Day by calling 000.00.00.00 (call free) and are also available on Reuters (at the pages “EUR=”, for the EUR/USD Currency, and “EURJPY=” for the EUR/JPY Currency).
The historical prices and official fixings of the Currencies are also published on the websites of the Federal Reserve Bank of New York (xxxx://xxx.xx.xxx.xxx/xxxxx.xxxx) and of the European Central Bank (xxx.xxx.xxx).
Renouncement Notice
DICHIARAZIONE DI RINUNCIA ALL’ESERCIZIO (FACSIMILE)
(da compilare su carta intestata)
A: UniCredit Banca Mobiliare S.p.A.
Fax 02/8862.2666
Tel 02/8862.2746 - 02/8862.2736
Covered warrant su ………….. scad. ………… emessi da UniCredito Italiano S.p.A. (i “covered warrant”)
L’intermediario
,
che detiene in custodia i covered warrant per conto della propria clientela, con la presente comunica, in nome proprio e per conto della suddetta propria clientela, la volontà di rinuncia all’esercizio dei diritti garantiti dal covered warrant come da indicazione contenuta nei Terms & Conditions dei Warrants.
Codice ISIN dei covered warrant per i quali rinuncia, per conto della propria clientela, all’esercizio dei covered warrant a scadenza:
Numero di covered warrant per i quali rinuncia, per conto della propria clientela, all’esercizio dei covered warrant a scadenza:
Il sottoscritto è consapevole che la presente dichiarazione di rinuncia all’esercizio a scadenza non è valida qualora non siano rispettati i requisiti indicati nei Terms & Conditions dei Warrants. Questo vale anche qualora la dichiarazione non dovesse essere consegnata in tempo utile a UniCredit Banca Mobiliare S.p.A.
Luogo Data
Firma (firme) del legale rappresentante dell’intermediario
Annex IV Voluntary Exercise Notice
DICHIARAZIONE DI ESERCIZIO (FACSIMILE)
(da compilare su carta intestata)
A: UniCredit Banca Mobiliare S.p.A. Fax 02/8862.2666
Tel 02/8862.2746 - 02/8862.2736
covered warrant su ………… scad emessi da UniCredito Italiano S.p.A.
L’intermediario
che detiene in custodia i covered warrant per conto della propria clientela con la presente esercita in modo irrevocabile i diritti garantiti dal covered warrant come da indicazione contenuta nei Terms & Conditions dei Warrants.
Codice ISIN dei covered warrant da esercitare:
Numero di covered warrant da esercitare:
i covered warrant da esercitare sono stati trasferiti sul conto N. 63307 di 2S Banca presso Monte Titoli S.p.A.;
A - ordina irrevocabilmente a UniCredit Banca Mobiliare S.p.A. di trasmettere l'importo della differenza al seguente conto in Euro intestato a:
Titolare del conto
numero c/c
presso Istituto Bancario – ABI + CAB
B - ordina irrevocabilmente a UniCredit Banca Mobiliare S.p.A. di accreditare l’importo in Euro della differenza tramite stanza di compensazione giornaliera:
intestazione beneficiario
codice SIA
Il sottoscritto è consapevole che:
1. con la presente Dichiarazione di Esercizio esercita in modo irrevocabile i covered warrant con le caratteristiche precedentemente descritte che detiene in custodia per conto della propria clientela secondo le modalità previste nei Terms & Conditions dei Warrants;
2. nel momento in cui la Dichiarazione di Esercizio è ricevuta dall’Agente di Calcolo, non sarà possibile, per nessuna ragione, richiederne l’annullamento;
3. è esclusa la revoca della Dichiarazione di Esercizio;
4. deve adempiere ai seguenti obblighi: a) far pervenire la presente Dichiarazione di Esercizio entro le ore
10.00 (ora di Milano) del giorno in cui intende esercitare i covered warrant; b) provvedere al trasferimento dei covered warrant in relazione ai quali é inviata la presente Dichiarazione di Esercizio entro le ore 17.00 (ora di Milano) del giorno della richiesta di esercizio sul conto di 2S Banca, presso Monte Titoli S.p.A., n. 63307; c) trasferire i covered warrant in modo da rendere possibile una chiara correlazione alla Dichiarazione D'esercizio.
Luogo Data
Firma (firme) del legale rappresentante dell’intermediario
NOTA DI SINTESI
La presente Nota di Sintesi deve essere letta come introduzione al Prospetto e qualsiasi decisione di investire nei Xxxxxx deve essere presa tenendo in considerazione il Prospetto nel suo complesso, del quale sono parte integrante anche i documenti inseriti tramite riferimento. A seguito dell’attuazione delle relative disposizioni della Direttiva Prospetti in ognuno degli Stati Membri dello Spazio Economico Europeo, nessuna responsabilità civile potrà essere attribuita alla Persona Responsabile in uno qualsiasi di tali Stati Membri in relazione alla presente Nota di Xxxxxxx, ivi compresa qualsiasi traduzione, salvo risulti fuorviante, imprecisa o contraddittoria rispetto ad altre parti del Prospetto. Qualora venga intrapresa un’azione legale in merito alle informazioni contenute nel Prospetto di fronte alle corti di giustizia di uno degli Stati dello Spazio Economico Europeo in cui viene intentata tale azione, il ricorrente, prima dell’inizio del procedimento giudiziario, potrebbe dover sostenere i costi della traduzione del Prospetto.
Alcuni dei termini contenuti nella seguente Nota di Sintesi saranno definiti nei restanti documenti che compongono il Prospetto. I termini e le locuzioni riportati nella presente Nota di Sintesi assumeranno il medesimo significato con cui sono intesi nelle “Condizioni dei Warrant” e “Condizioni dei Certificates" nonché nelle restanti sezioni del Prospetto.
Informazioni relative all’Emittente
Emittenti UniCredito Italiano S.p.A. (“UniCredito”) UniCredit Banca Mobiliare S.p.A. (“UBM”)
Descrizione di UniCredito: UniCredito, fondata a Genova con scrittura privata datata 28 aprile
1870 e con durata fino al 31 dicembre 2050, è stata costituita come società per azioni iscritta al Registro delle Imprese di Genova, codice fiscale e partita IVA 00348170101. La sede legale di UniCredito è sita in Xxx Xxxxx 0, 00000 Xxxxxx, mentre la Direzione Centrale è in Xxxxxx Xxxxxxxx, x. 0, 00000 Xxxxxx, telefono n. + 00.00.00000000.
Descrizione di UBM: UBM è stata costituita come società per azioni (o S.p.A.) il 14 luglio
1999 ai sensi della legislazione italiana, è iscritta al Registro delle Imprese di Milano, codice fiscale e partita IVA 12874220150. La sede legale di UBM è in Xxx Xxxxxxx Xxxxxx 00, 00000 Xxxxxx, Xxxxxx.
Licenza Bancaria: Ai sensi della legislazione italiana, entrambi gli Emittenti detengono
una licenza bancaria, concessa dalla Banca d’Italia, che li autorizza all’esercizio in Italia di tutte le attività bancarie consentite.
Attività di UniCredito: UniCredito, una società costituita ai sensi della legislazione italiana, è
la capogruppo del gruppo bancario UniCredit Group, un gruppo che fornisce una serie completa di servizi finanziari, operante nei settori dell’attività bancaria, finanziaria e delle attività collegate in Italia e in otto paesi dell’Europa Orientale e Centrale (il Gruppo).
Attività di UBM: UBM, leader nei mercati dei capitali in Italia, propone servizi
finanziari interbancari a investitori istituzionali e agli intermediari distributori.
Informazioni sul
Management di UniCredito:
Il Consiglio d’Amministrazione di UniCredito è responsabile della gestione ordinaria e straordinaria di UniCredito e del Gruppo. Il Consiglio d’Amministrazione ha la facoltà di delegare i propri poteri a uno o più amministratori delegati e di nominare un comitato esecutivo stabilendone poteri e attribuzioni.
Informazioni sul
Management di UBM:
La gestione di UBM è affidata al Consiglio d’Amministrazione. Tutti gli amministratori sono domiciliati presso la sede di Xxx Xxxxxxx Xxxxxx 00, 00000 Xxxxxx, Xxxxxx.
Informazioni relative al Programma
Descrizione: Programma di emissione di warrants e certificates.
Coordinatore: UBM
Agente Principale e Agente per il Pagamento:
Kredietbank S.A. Luxembourgeoise, con sede legale in 00 Xxxxxxxxx Xxxxx, X-0000 Xxxxxxxxxx, o il diverso soggetto indicato come tale nei Final Terms applicabili.
Agente per il Calcolo UniCredit Banca Mobiliare S.p.A., con sede legale in Xxx Xxxxxxx
Xxxxxx x. 00, 00000 Xxxxxx, Xxxxxx, o il diverso soggetto indicato come tale nei Final Terms applicabili.
Metodo di emissione: Su base sindacata o non sindacata. I titoli saranno emessi in Serie a
cui corrispondono una o più date di emissione. Ogni Serie può essere emessa in Tranche (ognuna una Tranche) nella stessa data di emissione o in data differente.
Prezzo di emissione: I Titoli saranno emessi al prezzo stabilito dal relativo Emittente e dal
Manager in base alle condizioni di mercato prevalenti.
Forma dei Titoli: A meno che nei Final Terms applicabili sia indicato che il sistema di
compensazione è Monte Titoli o venga specificato che è previsto un sistema di compensazione che non sia Clearstream, Luxembourg, né Euroclear o Monte Titoli, ogni emissione di Warrants sarà rappresentata da un Global Warrant ed ogni emissione di Certificates sarà rappresentata da un Global Certificate. Non verrà emesso alcun Warrant o Certificates in forma materializzata.
Tipo di Titoli: Gli Emittenti hanno la facoltà di emettere di volta in volta Warrants e
Certificates (insieme, i Xxxxxx) di qualsiasi tipo, compresi, a mero titolo esemplificativo, Titoli Indicizzati, Xxxxxx su Xxxxxx, Titoli Fund Linked, Xxxxxx su Valute o Titoli su Commodities. I Titoli rappresentano una forma di strumento finanziario derivato, il cui valore deriva dagli strumenti sottostanti.
Titoli Indicizzati Il Cash Settlement Amount relativo a Titoli Indicizzati da liquidarsi in
contanti sarà calcolato con riferimento ad un indice o ad un paniere di indici.
Titoli su Azioni Il Cash Settlement Amount relativo a Titoli su Azioni da liquidarsi in
contanti sarà calcolato con riferimento ad un'azione o ad un paniere
di azioni.
L'Entitlement in relazione ai Titoli su Azioni liquidati tramite physical delivery sarà costituito da un ammontare specificato di azioni di una o più società, a seconda del caso, salvo, nel caso di Warrants, il pagamento del relativo Prezzo di Esercizio e qualsiasi altra somma dovuta.
Titoli Fund Linked Il Cash Settlement Amount relativo a Titoli Fund Linked da liquidarsi
in contanti sarà calcolato con riferimento ad un fondo o ad un paniere di fondi.
L'Entitlement in relazione ai Titoli Fund Linked liquidati tramite physical delivery sarà costituito da un ammontare specificato di fondi, salvo, nel caso di Warrants, il pagamento del relativo Prezzo di Esercizio e qualsiasi altra somma dovuta.
Titoli su Valute Il Cash Settlement Amount relativo a Titoli su Valute da liquidarsi in
contanti sarà calcolato con riferimento ad una valuta o ad un paniere di valute.
L'Entitlement in relazione ai Titoli su Valute liquidati tramite physical delivery sarà costituito da un ammontare specificato delle relative valute, salvo, nel caso di Warrants, il pagamento del relativo Prezzo di Esercizio e qualsiasi altra somma dovuta.
Titoli su Commodities Il Cash Settlement Amount relativo a Titoli su Commodities da
liquidarsi in contanti sarà calcolato con riferimento ad una commodity
o ad un paniere di commodities.
L'Entitlement in relazione ai Titoli su Valute liquidati tramite physical delivery sarà costituito da un ammontare specificato di commodities, salvo, nel caso di Warrants, il pagamento del relativo Prezzo di Esercizio e qualsiasi altra somma dovuta.
Altri Xxxxxx Potranno essere emessi altri Titoli relativi ad ulteriori strumenti sottostanti o basi di riferimento, alle condizioni stabilite dall'Emittente e specificate nei Final Terms applicabili.
Warrants: I Warrants potranno essere European Style o American Style o del tipo specificato nei Final Terms applicabili.
I Warrants European potranno essere esercitati solo alla Data di Esercizio, salve le previsioni degli articoli 5 e 6 del Regolamento dei Warrants.
Salvo che tali Warrants siano negoziati sul mercato regolamentato Italiano di Borsa Italiana S.p.A. e Monte Titoli sia indicato come sistema di compensazione nei Final Terms applicabili (nel qual caso saranno applicabili le previsioni dell'articolo 5(H)), se nei Final Terms applicabili l'Esercizio Automatico è indicato come non applicabile, ciascun Warrant European Style rispetto al quale non sia stato consegnato alcun Avviso di Esercizio Volontario secondo le modalità specificate nell'articolo 5, alle ore 10.00 a.m. (ora di
Lussemburgo o Bruxelles) o prima, alla Data di Esercizio Effettivo, diventerà nullo. Se nei Final Terms applicabili l'Esercizio Automatico è indicato come applicabile, ciascun Warrant European Style rispetto al quale non sia stato consegnato alcun Avviso di Xxxxxxxxx Xxxxxxxxxx secondo le modalità specificate nell'articolo 5, alle ore 10.00 a.m. (ora di Lussemburgo o Bruxelles) o prima, alla Data di Esercizio Effettivo, sarà automaticamente esercitato alla Data di Esercizio Effettivo e saranno applicabili le previsioni dell'articolo 5(F).
I Warrants American Style potranno essere esercitati in ogni Giorno Lavorativo di Esercizio durante il Periodo di Esercizio, salve le previsioni degli articoli 5 e 6 del Regolamento dei Warrant.
Salvo che tali Warrants siano negoziati sul mercato regolamentato Italiano di Borsa Italiana S.p.A. e Monte Titoli sia indicato come sistema di compensazione nei Final Terms applicabili (nel qual caso saranno applicabili le previsioni dell'articolo 5(H)), se nei Final Terms applicabili l'Esercizio Automatico è indicato come non applicabile, ciascun Warrant American Style rispetto al quale non sia stato consegnato alcun Avviso di Esercizio Volontario secondo le modalità specificate nell'articolo 5, alle ore 10.00 a.m. (ora di Lussemburgo o Bruxelles) o prima, alla Data di Scadenza, diventerà nullo. Se nei Final Terms applicabili l'Esercizio Automatico è indicato come applicabile, ciascun Warrant American Style rispetto al quale non sia stato consegnato alcun Avviso di Xxxxxxxxx Xxxxxxxxxx secondo le modalità specificate nell'articolo 5, alle ore
10.00 a.m. (ora di Lussemburgo o Bruxelles) o prima, alla Data di Scadenza, sarà automaticamente esercitato alla Data di Scadenza e saranno applicabili le previsioni dell'articolo 5(F).
Certificates I Certificates potranno essere fruttiferi o infruttiferi, come specificato nei Final Terms applicabili.
Sistemi di compensazione: Monte Titoli, Clearstream, Luxembourg, Euroclear e altri sistemi di
compensazione come concordato con gli Emittenti e il Manager.
Valute: Euro, dollari statunitensi o altra valuta o valute, nell’osservanza delle disposizioni giuridiche e/o regolamentari e/o dei requisiti imposti dalla Banca Centrale competente.
Scadenze: La data di scadenza dei Titoli sarà concordata dagli Emittenti e dal Manager, in osservanza dei limiti minimi e massimi stabiliti dalle relative norme, regolamenti e direttive.
Periodi e tassi di interesse: I periodi e il tasso di interesse (se del caso) o il suo metodo di calcolo
possono cambiare di volta in volta oppure rimanere costanti per ogni Serie. Tutte le informazioni a questo proposito sono riportate nei Final Terms applicabili.
Liquidazione: I Final Terms applicabili specificheranno la Data di Scadenza e le condizioni di liquidazione dei Titoli.
Status dei Titoli: I Titoli costituiranno obbligazioni dirette, non subordinate e non
garantite dagli Emittenti.
Regime fiscale: Tutti i pagamenti effettuati dagli Emittenti saranno soggetti a
eventuali imposte, dazi, trattenute o altri oneri che potrebbe essere loro richiesto di effettuare, corrispondere, trattenere o dedurre. Si veda anche "Fattori di Rischio – Direttiva UE sul Risparmio" e "Regime fiscale" di seguito.
Prossimamente, il Governo Italiano potrebbe essere autorizzato dal Parlamento a modificare il trattamento fiscale delle rendite di natura finanziaria. Tale modifica potrebbe incidere sul regime fiscale dei Titoli.
I potenziali investitori aventi domicilio fiscale in Italia o all'estero, devono leggere attentamente la sezione "Regime Fiscale nella Repubblica Italiana".
Quotazione e ammissione alle negoziazioni:
È stata presentata alla CSSF richiesta di approvazione del presente documento come due prospetti base. È stata altresì inoltrata richiesta alla Borsa valori di Lussemburgo perché i Xxxxxx emessi ai sensi del Programma siano ammessi alla negoziazione sul mercato regolamentato della Borsa valori di Lussemburgo e ivi quotati.
I Titoli possono anche essere quotati o ammessi alla negoziazione, a seconda del caso, su altre o anche su altre borse valori o mercati o possono non essere quotati.
Restrizioni alla Vendita: Esistono restrizioni all’offerta, alla vendita e al trasferimento di
Titoli. Si veda a tal proposito la sezione "Offerta e Vendita".
Legge che governa i Xxxxxx: I Titoli saranno governati dalla, e dovranno essere interpretati
conformemente alla, Legge Italiana o Legge Inglese come specificato nei Final Terms applicabili.
Fattori di Xxxxxxx: Esistono alcuni fattori che potrebbero incidere sulla capacità da parte
dell’Emittente di adempiere ai propri obblighi in relazione ai Xxxxxx
oggetto del programma.
L'attuale struttura del Gruppo è stata profondamente influenzata dalla recente acquisizione da parte di UniCredito di Bayerische Hypo- und Vereinsbank (HVB). Un elemento essenziale della strategia di UniCredito è di utilizzare le sinergie derivanti dalla aggregazione con HVB per rinforzare la propria posizione competitiva nei mercati in cui il Gruppo opera. Tuttavia non vi è certezza che UniCredito sarà in grado di ristrutturare efficacemente le proprie attività per integrare HVB o altre società che il Gruppo ha acquisito o acquisirà in futuro. Ad esempio, UniCredito, nonostante quanto pianificato, potrebbe non essere in grado di raggiungere un livello di efficienza operativa e altre sinergie, l'integrazione di UniCredito ed i suoi sforzi di ristrutturazione potrebbero richiedere quantità di tempo e risorse maggiori di quelle inizialmente previste a bilancio e questi sforzi potrebbero rivelarsi totalizzanti per il management di UniCredito e costituire dunque un elemento di distrazione. Qualora UniCredito non riuscisse o ritardasse nel
ristrutturare le proprie attività, o nell'integrare HVB nel Gruppo, UniCredito potrebbe perdere alcuni o tutti i vantaggi attesi dalla acquisizione di HVB e delle società da questa controllate, il che potrebbe avere un impatto negativo sulle proprie attività, risulatati operativi e condizioni finanziarie.
Inoltre, durante il 2004 e i primi sei mesi del 2005, UniCredito ha concluso o negoziato numerosi accordi di acquisizione, ivi comprese importanti acquisizioni in Italia e nei paesi dell’Europa allargata e l’integrazione di tali acquisizioni presenta ed implica per il futuro sfide di integrazione, in particolare laddove i sistemi contabili e di informazione sulla gestione differiscono sensibilmente da quelli utilizzati altrove nel Gruppo. Sono significativi anche i rischi connessi alla conduzione di attività nell’Europa allargata: la natura di tali rischi differisce notevolmente da un paese all’altro, ma in generale si tratta di condizioni economiche, di scambio e di mercati borsistici egualmente caratterizzati da volatilità così come, in molti casi, di infrastrutture politiche, finanziarie e giuridiche meno sviluppate.
I risultati del Gruppo sono influenzati dalle condizioni economiche, finanziarie e commerciali generali. Durante i periodi di recessione, può verificarsi una riduzione della richiesta di prodotti di finanziamento e un maggior numero di clienti del Gruppo potrebbe non riuscire ad adempiere ai propri impegni correlati al finanziamento o ad obblighi di altra natura. Gli aumenti dei tassi di interesse potrebbero altresì influenzare la richiesta di mutui e di altri prodotti di finanziamento. Anche le fluttuazioni dei tassi di interesse in Europa e su altri mercati in cui il Gruppo opera ne influenza la performance.
I Portatori dei Titoli emessi nell’ambito del Programma sono esposti a numerosi rischi connessi ai Titoli, per esempio ai rischi legati alla struttura di un particolare Titolo, al tasso di interesse, di cambio, al valore tempo e ai rischi politici così come ai rischi di mercato legati all’investimento in una determinata base di riferimento.
Per una descrizione più dettagliata dei fattori di rischio, si suggerisce di consultare le pagine 15 - 29 del presente Prospetto.
Rappresentazione dei Portatori di Xxxxxx:
Sono previste delle modalità con cui i Portatori di Xxxxxx possano essere rappresentati in conformità alla Condizione 9(D), per quanto riguarda i Warrants, e 10(D) per quanto riguarda i Certificates.
TERMS AND CONDITIONS OF THE WARRANTS
The following is the text of the Terms and Conditions of the Warrants which, unless the applicable Final Terms specify that Monte Titoli is the relevant clearing system or specify that a clearing system other than Clearstream, Luxembourg, Euroclear or Monte Titoli is applicable, will be attached to each Global Warrant (as defined below). The applicable Final Terms in relation to any issue of Warrants may specify other terms and conditions which shall, to the extent so specified or to the extent inconsistent with the following Terms and Conditions, replace or modify the following Terms and Conditions for the purpose of such Warrants. The applicable Final Terms (or the relevant provisions thereof) will be attached to each Global Warrant, unless the applicable Final Terms specify that Monte Titoli is the relevant clearing system or specify that a clearing system other than Clearstream, Luxembourg, Euroclear or Monte Titoli is applicable. References in the Terms and Conditions to "Securities" are to the Securities of one Series only, not to all Securities that may be issued under the Programme.
The Warrants will be issued in series (each a Series). The Warrants of each Series being intended to be interchangeable with all other Warrants of that Series. Series means a Tranche or Tranches of Warrants which are (i) expressed to be consolidated and form a single series and (ii) identical in all respects (including as to listing) except for their respective Issue Dates and Issue Prices. Each Series may be issued in Tranches (each a Tranche) on the same or different issue dates, the terms of which are identical in all respects (including as to listing). The specific terms of each Tranche (which will be supplemented, where necessary, with supplemental terms and conditions and, save in respect of the issue date, issue price and nominal amount of the Tranche (where applicable), will be identical to the terms of other Tranches of the same Series, including as to listing) will be set out in the applicable Final Terms.
Unless the applicable Final Terms specify that Monte Titoli is the relevant clearing system or specify that a clearing system other than Clearstream, Luxembourg, Euroclear or Monte Titoli is applicable, the series of Warrants described in the applicable Final Terms (in so far as it relates to such series of Warrants) (such Warrants being hereinafter referred to as the Warrants, which expression, unless the context otherwise requires, shall include the Global Warrants (as defined below)) are constituted by a global warrants (the Global Warrants) and are issued by the Issuer as specified in the applicable Final Terms and references to the Issuer shall be construed accordingly. If applicable, the Warrants are issued pursuant to an Agency Agreement dated 14 December 2006 (the Agency Agreement) between UniCredito Italiano S.p.A., UniCredit Banca Mobiliare S.p.A. and Kredietbank S.A. Luxembourgeoise as principal agent (the Principal Agent, which expression shall include any successor principal agent and, together with any additional agents, the Agents). UniCredit Banca Mobiliare S.p.A. shall undertake the duties of calculation agent (the Calculation Agent) in respect of the Warrants as set out below and in the applicable Final Terms unless another entity is so specified as calculation agent in the applicable Final Terms. The expression Calculation Agent shall, in relation to the relevant Warrants, include such other specified calculation agent.
Unless the applicable Final Terms specify that Monte Titoli is the relevant clearing system or specify that a clearing system other than Clearstream, Luxembourg, Euroclear or Monte Titoli is applicable, the applicable Final Terms for the Warrants is attached to the Global Warrant. No Warrants in definitive form will be issued. Unless the applicable Final Terms specify that Monte Titoli is the relevant clearing system or specify that a clearing system other than Clearstream, Luxembourg, Euroclear or Monte Titoli is applicable, the Global Warrant has been deposited with the Common Depositary common to Clearstream, Luxembourg and Euroclear. If Monte Titoli is specified in the applicable Final Terms as the relevant clearing system, no physical document of title will be issued to represent the Warrants. In this case, on
issue the Warrants have been or will be registered in the books of Monte Titoli. The issue of any Warrants may be cancelled at any time until the Warrants are registered in the books of Monte Titoli.
The applicable Final Terms for the Warrants supplement these Terms and Conditions and may specify or set out in full other terms and conditions which shall, to the extent so specified or set out or to the extent inconsistent with these Terms and Conditions, supplement, replace or modify these Terms and Conditions for the purposes of the Warrants.
References herein to the "applicable Final Terms" are to the Final Terms (in the case of any further warrants issued pursuant to Condition 12 and forming a single series with the Warrants) relating to the Warrants.
Copies of the Agency Agreement (which contains the form of the Final Terms) and the applicable Final Terms (where applicable) may be obtained from the specified office of the Principal Agent, save that if the Warrants are unlisted, the applicable Final Terms will only be obtainable by a Holder and such Holder must produce evidence satisfactory to the Principal Agent as to identity.
Words and expressions defined in the Agency Agreement or used in the applicable Final Terms shall have the same meanings where used in these Terms and Conditions unless the context otherwise requires or unless otherwise stated.
The Holders (as defined in Condition 1(B)) are entitled to the benefit of and are deemed to have notice of and are bound by all the provisions of the Agency Agreement (insofar as they relate to the Warrants) and the applicable Final Terms, which are binding on them.
1. Type, Title and Transfer
(A) Type
The Warrants may be Index Warrants, Share Warrants, Fund Linked Warrants, Currency Warrants, Commodity Warrants or any other or further type of warrants as is specified in the applicable Final Terms. Certain terms, which will, unless otherwise varied in the applicable Final Terms, apply to Index Warrants, Share Warrants, Fund Linked Warrants, Currency Warrants or Commodity Warrants, are set out in Condition 15.
The applicable Final Terms will indicate whether the Warrants are American style Warrants (the American Style Warrants) or European style Warrants (the European Style Warrants) or such other type as may be specified in the applicable Final Terms, whether automatic exercise (the Automatic Exercise) applies to the Warrants, whether settlement shall be by way of cash payment (the Cash Settled Warrants) or physical delivery (the Physical Delivery Warrants), whether the Warrants are call Warrants (the Call Warrants) or put Warrants (the Put Warrants), or such other type as may be specified in the applicable Final Terms, whether the Warrants may only be exercised in Units and whether averaging (the Averaging) will apply to the Warrants. If Units are specified in the applicable Final Terms, Warrants must be exercised in Units and any Voluntary Exercise Notice which purports to exercise Warrants in breach of this provision shall be void and of no effect. If Averaging is specified as applying in the applicable Final Terms, the applicable Final Terms will state the relevant Averaging Dates and, if an Averaging Date is a Disrupted Day, whether Omission, Postponement or Modified Postponement (each as defined in Condition 3 below) applies.
References in these Terms and Conditions, unless the context otherwise requires, to Cash Settled Warrants shall be deemed to include references to Physical Delivery Warrants which include an option (as set out in the applicable Final Terms) at the Issuer's election to make cash settlement of such Warrant pursuant to Condition 4(D) and where settlement is to be by way of cash payment. References in these Terms and Conditions, unless the context otherwise requires, to Physical Delivery Warrants shall be deemed to include references to Cash Settled Warrants which include an option (as set out in the applicable Final Terms) at the Issuer's election to make physical delivery of the relevant underlying asset in settlement of such Warrant pursuant to Condition 4(D) and where settlement is to be by way of physical delivery.
Cash Settled Warrants may provide for one or more Exercise Date(s) and may provide for the Holders to receive a specific amount calculated as specified in the applicable Final Terms on each such Exercise Date, all as specified in the applicable Final Terms. In such an event, the Warrants shall remain outstanding until their Settlement Date.
(B) Title to Warrants
Each person who is for the time being shown in the records of Clearstream, Luxembourg or of Euroclear as the holder of a particular amount of Warrants (in which regard any certificate or other document issued by Clearstream, Luxembourg or Euroclear as to the amount of Warrants standing to the account of any person shall be conclusive and binding for all purposes save in the case of manifest error) shall (except as otherwise required by law) be treated by the Issuer, the Principal Agent, Clearstream, Luxembourg, Euroclear and all other persons dealing with said person as the holder of such amount of Warrants for all purposes (and the expressions Holder and Holder of Warrants and related expressions shall be construed accordingly).
(C) Transfers of Warrants
All transactions (including transfers of Warrants) in the open market or otherwise must be effected through an account at Clearstream, Luxembourg or Euroclear subject to and in accordance with the rules and procedures for the time being of Clearstream, Luxembourg or of Euroclear, as the case may be. Title will pass upon registration of the transfer in the books of either Clearstream, Luxembourg or Euroclear, as the case may be. Transfers of Warrants may not be effected after the exercise of such Warrants pursuant to Condition 5.
Any reference herein to Clearstream, Luxembourg and/or Euroclear shall, whenever the context so permits, be deemed to include a reference to Monte Titoli or any additional or alternative clearing system approved by the Issuer and the Principal Agent from time to time and notified to the Holders in accordance with Condition 10.
Transfers of Warrants may not be made (directly or indirectly) to a person located in the United States or to, or for the account or benefit of, a U.S. person (as defined in Regulation S under the
U.S. Securities Act of 1933, as amended).
2. Status of the Warrants
The Warrants constituted direct, unsubordinated and unsecured obligations of the Issuer and rank equally among themselves and will rank pari passu with all other present and future unsecured and unsubordinated obligations of the Issuer (except as prescribed by law).
3. Definitions
For the purposes of these Terms and Conditions, the following general definitions will apply:
"Actual Exercise Date" means the Exercise Date (in the case of European Style Warrants) or, subject to Condition 6(A)(ii), the date during the Exercise Period on which the Warrant is actually or is deemed exercised or, if Automatic Exercise is specified as applying in the applicable Final Terms, is automatically exercised (in the case of American Style Warrants, as more fully set out in Condition 4(A)(i));
"Affiliate" means in relation to any entity (the First Entity), any entity controlled, directly or indirectly, by the First Entity, any entity that controls, directly or indirectly, the First Entity or any entity directly or indirectly under common control with the First Entity. For these purposes "control" means ownership of a majority of the voting power of an entity;
"Averaging Date" means, in respect of an Actual Exercise Date, each date specified as an Averaging Date in the applicable Final Terms or, if any such date is not a Scheduled Trading Day, the immediately following Scheduled Trading Day unless, in the opinion of the Calculation Agent, any such day is a Disrupted Day (as defined below). If any such day is a Disrupted Day, then:
(a) if "Omission" is specified as applying in the applicable Final Terms, then such date will be deemed not to be an Averaging Date for the purposes of determining the relevant Settlement Price provided that, if through the operation of this provision no Averaging Date would occur in respect of such Actual Exercise Date, then the provisions of the definition of Valuation Date will apply for purposes of determining the relevant level, price or amount on the final Averaging Date with respect to that Actual Exercise Date as if such Averaging Date were a Valuation Date that was a Disrupted Day; or
(b) if "Postponement" is specified as applying in the applicable Final Terms, then the provisions of the definition of Valuation Date will apply for the purposes of determining the relevant level, price or amount on that Averaging Date as if such Averaging Date were a Valuation Date that was a Disrupted Day irrespective of whether, pursuant to such determination, that deferred Averaging Date would fall on a day that already is or is deemed to be an Averaging Date; or
(c) if "Modified Postponement" is specified as applying in the applicable Final Terms then:
(i) where the Warrants are Index Warrants relating to a single Index or Share Warrants relating to a single Share, the Averaging Date shall be the first succeeding Valid Date (as defined below). If the first succeeding Valid Date has not occurred as of the Valuation Time (as defined below) on the eighth Scheduled Trading Day immediately following the original date that, but for the occurrence of another Averaging Date or Disrupted Day, would have been the final Averaging Date in respect of such Actual Exercise Date, then (A) that eighth Scheduled Trading Day shall be deemed to be the Averaging Date (irrespective of whether that eighth Scheduled Trading Day is already an Averaging Date), and (B) the Calculation Agent shall determine the relevant level or price for that Averaging Date in accordance with what provided for in the definition of Valuation Date below;
(ii) where the Warrants are Index Warrants relating to a Basket of Indices or Share Warrants relating to a Basket of Shares, the Averaging Date for each Index or Share not affected by the occurrence of a Disrupted Day shall be the originally designated Averaging Date (the Scheduled Averaging Date) and the Averaging Date for an Index or Share affected by the occurrence of a Disrupted Day shall be the first succeeding Valid Date (as defined below) in relation to such Index or Share. If the first succeeding Valid Date in relation to such Index or Share has not occurred as of the Valuation Time on the eighth Scheduled Trading Day immediately following the original date that, but for the occurrence of another Averaging Date or Disrupted Day, would have been the final Averaging Date in respect of such Actual Exercise Date, then (A) that eighth Scheduled Trading Day shall be deemed the Averaging Date (irrespective of whether that eighth Scheduled Trading Day is already an Averaging Date) in respect of such Index or Share, and (B) the Calculation Agent shall determine the relevant level, price or amount for that Averaging Date in accordance with what provided for in the definition of Valuation Date below; and
(iii) where the Warrants are Fund Linked Warrants, Currency Warrants or Commodity Warrants, provisions for determining the Averaging Date in the event of Modified Postponement applying will be set out in the applicable Final Terms,
for the purposes of these Terms and Conditions, "Valid Date" means a Scheduled Trading Day that is not a Disrupted Day and on which another Averaging Date in relation to the Actual Exercise Date does not or is not deemed to occur;
"Business Day" means (i) a day (other than a Saturday or Sunday) on which commercial banks are open for general business (including dealings in foreign exchange and foreign currency deposits) in the relevant Business Day Centre(s) and a day on which Clearstream, Luxembourg and Euroclear are open for business and (ii) for the purposes of making payments in Euro, any day on which the Trans-European Automated Real-Time Gross Settlement Express Transfer (TARGET) System is open;
"Cash Settlement Amount" means, in relation to Cash Settled Warrants, the amount to which the Holder is entitled in the Settlement Currency in relation to each such Warrant or, if Units are specified in the applicable Final Terms, each Unit, as the case may be, as determined by the Calculation Agent pursuant to Condition 4;
"Conflict of Interest" means the conflicts as specified in the applicable Final Terms;
"Disrupted Day" means any Scheduled Trading Day on which a relevant Exchange or any Related Exchange fails to open for trading during its regular trading session or on which a Market Disruption Event has occurred;
"Entitlement" means, in relation to a Physical Delivery Warrant or, if Units are specified in the applicable Final Terms, each Unit, as the case may be, the quantity of the Relevant Asset or the Relevant Assets, as the case may be, which a Holder is entitled to receive on the Settlement Date in respect of each such Warrant or Unit, as the case may be, following payment of the Exercise Price (and any other sums payable) rounded down as provided in Condition 4(C)(i), as determined by the Calculation Agent including any documents evidencing such Entitlement;
"Exchange" means:
(a) in respect of Index Warrants and in relation to an Index, each exchange or quotation system specified as such for such Index in the applicable Final Terms, any successor to such exchange or quotation system or any substitute exchange or quotation system to which trading in the securities/commodities comprising such Index has temporarily relocated (provided that the Calculation Agent has determined that there is comparable liquidity relative to the securities/commodities comprising such Index on such temporary substitute exchange or quotation system as on the original Exchange); and
(b) in respect of Share Warrants and in relation to a Share, each exchange or quotation system specified as such for such Share in the applicable Final Terms, any successor to such exchange or quotation system or any substitute exchange or quotation system to which trading in the Share has temporarily relocated (provided that the Calculation Agent has determined that there is comparable liquidity relative to such Share on such temporary substitute exchange or quotation system as on the original Exchange);
"Exchange Business Day" means any Scheduled Trading Day on which each Exchange and each Related Exchange are open for trading during their respective regular trading sessions, notwithstanding any such Exchange or Related Exchange closing prior to its Scheduled Closing Time;
"Exercise Business Day" means:
(a) in the case of Cash Settled Warrants, a day that is a Business Day; and
(b) in the case of Physical Delivery Warrants, a day that is a Business Day and a Scheduled Trading Day;
"Exercise Date" means the date as specified in the applicable Final Terms; "Maturity Date" means the date as specified in the applicable Final Terms;
"Parity" means the amount indicated as such in the applicable Final Terms in relation to each Series of Warrants, to be used in connection with the calculation of the Cash Settlement Amount pursuant to Condition 4(B).
"Related Exchange" means, in respect of Index Warrants and in relation to an Index or in respect of Share Warrants and in relation to a Share, each exchange or quotation system specified as such for such Index or Share in the applicable Final Terms, any successor to such exchange or quotation system or any substitute exchange or quotation system to which trading in futures or options contracts relating to such Index or Share has temporarily relocated (provided that the Calculation Agent has determined that there is comparable liquidity relative to the futures or options contracts relating to such Index or such Share on such temporary substitute exchange or quotation system as on the original Related Exchange), provided that where "All Exchanges" is specified as the Related Exchange in the applicable Final Terms, "Related Exchange" shall mean each exchange or quotation system where trading has a material effect (as determined by the Calculation Agent) on the overall market for futures or options contracts relating to such Index or such Share;
"Relevant Assets" means, in respect of Physical Delivery Warrants, the relevant assets to which the Warrants relate;
"Renouncement Date" means the date as specified in the applicable Final Terms;
"Scheduled Closing Time" means, in respect of an Exchange or Related Exchange and a Scheduled Trading Day, the scheduled weekday closing time of such Exchange or Related Exchange on such Scheduled Trading Day, without regard to after hours or any other trading outside of the regular trading session hours;
"Scheduled Trading Day" means any day on which each Exchange and each Related Exchange are scheduled to be open for trading for their respective regular trading sessions;
"Scheduled Valuation Date" means any original date that, but for the occurrence of an event causing a Disrupted Day, would have been a Valuation Date;
"Settlement Date" means:
(a) in relation to Cash Settled Warrants:
in relation to each Actual Exercise Date, (i) where Averaging is not specified in the applicable Final Terms, the third Business Day following the Valuation Date provided that if the Warrants are Index Warrants relating to a Basket of Indices, Share Warrants relating to a Basket of Shares, Fund Linked Warrants relating to a Basket of Funds or Commodity Warrants relating to a Basket of Commodities and the occurrence of a Disrupted Day has resulted in a Valuation Date for one or more Indices, Shares, Funds or Commodities, as the case may be, being adjusted as set out in the definition of Valuation Date below, the Settlement Date shall be the third Business Day next following the last occurring Valuation Date in relation to any Index, Share, Fund or Commodity, as the case may be, or (ii) where Averaging is specified in the applicable Final Terms, the third Business Day following the last occurring Averaging Date provided that where the Warrants are Index Warrants relating to a Basket of Indices, Share Warrants relating to a Basket of Shares, Fund Linked Warrants relating to a basket of Funds or Commodity Warrants relating to a Basket of Commodities and the occurrence of a Disrupted Day has resulted in an Averaging Date for one or more Indices, Shares, Funds or Commodities, as the case may be, being adjusted as set out in the definition of Averaging Date above, the Settlement Date shall be the third Business Day next following the last occurring Averaging Date in relation to any Index, Share, Fund or Commodity, as the case may be, or such other date as is specified in the applicable Supplement; and
(b) in relation to Physical Delivery Warrants, the date specified as such in the applicable Final Terms;
"Settlement Price" means, in relation to each Cash Settled Warrant or, if Units are specified in the applicable Final Terms, each Unit, as the case may be:
(a) in respect of Index Warrants, subject to Condition 15(A) and as referred to in Valuation Date below or Averaging Date above, as the case may be:
(i) in the case of Index Warrants relating to a Basket of Indices, an amount (which shall be deemed to be a monetary value on the same basis as the Exercise Price) equal to the sum of the values calculated for each Index as the official closing level for each Index as determined by the Calculation Agent or, if so specified in the applicable Final Terms, the level of each Index determined by the Calculation Agent as set out in the applicable Final Terms at the Relevant Time on (A) if Averaging is not specified in the applicable Final Terms, the Valuation Date or (B) if Averaging is specified in the applicable Final Terms, an Averaging Date and, in either case, without regard to any subsequently published correction, multiplied by the relevant Multiplier; and
(ii) in the case of Index Warrants relating to a single Index, an amount (which shall be deemed to be a monetary value on the same basis as the Exercise Price) equal to (a) the official closing level of the Index as used by the relevant Related Exchange for the settlement of the Index, if so specified in the applicable Final Terms, or (b) the amount calculated and published by the relevant Index Sponsor, if so specified in the applicable Final Terms, or (c) the amount determined by the Calculation Agent, if so specified in the applicable Final Terms, on (A) if Averaging is not specified in the applicable Final Terms, the Valuation Date or (B) if Averaging is specified in the applicable Final Terms, an Averaging Date and, in either case, without regard to any subsequently published correction;
For the avoidance of doubt, with respect to item (a)(ii)(a) above:
(x) where the Warrants are traded on the Italian regulated markets of Borsa Italiana
S.p.A. the following shall apply: in case of delisting of the relevant options contracts related to each Index listed on the relevant Related Exchange, at any time between the Issue Date and the Exercise Date (or Expiration Date, as the case may be), both included, of any Series of Warrants, the Settlement Price will be an official price of the Index calculated by the relevant Index Sponsor on the Valuation Date. The Calculation Agent will notify the Holders of the Settlement Price of the Index used for the purpose of calculating the Cash Settlement Amount;
(y) where the Warrants are traded on a French regulated market and/or on a German regulated or unregulated market the following shall apply: in case of delisting of the relevant options contracts related to each Index listed on the Related Exchange at any time between the Issue Date and the Exercise Date (or Expiration Date, as the case may be), both included, of any Series of Warrants, the Calculation Agent will notify the Holders of the Settlement Price of the Index used for the purpose of calculating the Cash Settlement Amount. In case of such de-listing, the Issuer has the option to early settle the Warrants. The Issuer shall notify the Holders of any early settlement of the Warrants according to Condition 10.
(b) in respect of Share Warrants, subject to Condition 15(B) and as referred to in Valuation Date below or Averaging Date above, as the case may be:
(i) in the case of Share Warrants relating to a Basket of Shares, an amount equal to the sum of the values calculated for each Share at the official closing price (or the price at the Relevant Time on the Valuation Date or an Averaging Date, as
the case may be, if so specified in the applicable Final Terms) quoted on the relevant Exchange for such Share (as defined in Condition 15(B)) on (A) if Averaging is not specified in the applicable Final Terms, the Valuation Date or
(B) if Averaging is specified in the applicable Final Terms, an Averaging Date and, in either case, without regard to any subsequently published correction (or if in the opinion of the Calculation Agent, any such official closing price or the price at the Relevant Time on the Valuation Date or such Averaging Date, as the case may be, if so specified in the applicable Final Terms, cannot be so determined and the Valuation Date or Averaging Date, as the case may be, is not a Disrupted Day, an amount determined by the Calculation Agent to be equal to the arithmetic mean of the closing fair market buying price (or the fair market buying price at the Relevant Time on the Valuation Date or such Averaging Date, as the case may be, if so specified in the applicable Final Terms) and the closing fair market selling price (or the fair market selling price at the Relevant Time on the Valuation Date or such Averaging Date, as the case may be, if so specified in the applicable Final Terms) for the relevant Share whose official closing price (or the price at the Relevant Time on the Valuation Date or such Averaging Date, as the case may be, if so specified in the applicable Final Terms) cannot be determined based, at the Calculation Agent's discretion, either on the arithmetic mean of the foregoing prices or middle market quotations provided to it by two or more financial institutions (as selected by the Calculation Agent) engaged in the trading of the relevant Share or on such other factors as the Calculation Agent shall decide), multiplied by the relevant Multiplier, each such value to be converted, if so specified in the applicable Final Terms, into the Settlement Currency at the Exchange Rate and the sum of such converted amounts to be the Settlement Price, all as determined by or on behalf of the Calculation Agent); and
(ii) in the case of Share Warrants relating to a single Share, an amount equal to (a) the official closing price quoted on the relevant Exchange for the settlement of such Share (as defined in Condition 15(B)), if so specified in the applicable Final Terms, or (b) the amount determined by the Calculation Agent, if so specified in the applicable Final Terms, on (A) if Averaging is not specified in the applicable Final Terms, the Valuation Date or (B) if Averaging is specified in the applicable Final Terms, an Averaging Date and, in either case, without regard to any subsequent published correction (or if, in the opinion of the Calculation Agent, any such official closing price or amount cannot be so determined and the Valuation Date or Averaging Date, as the case may be, is not a Disrupted Day, an amount determined by the Calculation Agent to be equal to the arithmetic mean of the closing fair market buying price (or the fair market buying price at the Relevant Time on the Valuation Date or such Averaging Date, as the case may be, if so specified in the applicable Final Terms) and the closing fair market selling price (or the fair market selling price at the Relevant Time on the Valuation Date or such Averaging Date, as the case may be, if so specified in the applicable Final Terms) for the Share based, at the Calculation Agent's discretion, either on the arithmetic mean of the foregoing prices or middle market quotations provided to it by two or more financial institutions (as selected by the Calculation Agent) engaged in the trading of the Share or on such other factors as the Calculation Agent shall decide), such amount to be
converted, if so specified in the applicable Final Terms, into the Settlement Currency at the Exchange Rate and such converted amount to be the Settlement Price, all as determined by or on behalf of the Calculation Agent);
(c) in respect of Fund Linked Warrants, subject to Condition 15(C) and as referred to in Valuation Date below or Averaging Date above:
(i) in the case of Fund Linked Warrants relating to a Basket of Funds, an amount equal to the sum of the net asset values (each, the NAV) as from time to time calculated for each Fund by the relevant responsible entity and as appearing on the relevant website or screen page at the Relevant Time on (A) if Averaging is not specified in the applicable Final Terms, the Valuation Date or (B) if Averaging is specified in the applicable Final Terms, an Averaging Date, or if such NAV is not available, the arithmetic mean of the NAV levels for such Funds at the Relevant Time on the Valuation Date or such Averaging Date, as the case may be, as determined by the Calculation Agent in the applicable Final Terms; and
(ii) in the case of Fund Linked Warrants relating to a single Fund, an amount equal to the NAV for the Fund as from time to time calculated by the relevant responsible entity and as appearing on the relevant website or screen page at the Relevant Time on (A) if Averaging is not specified in the applicable Final Terms, the Valuation Date or (B) if Averaging is specified in the applicable Final Terms, an Averaging Date, or if such NAV is not available, the arithmetic mean of the NAV levels for such Fund at the Relevant Time on the Valuation Date or such Averaging Date, as the case may be, as determined by the Calculation Agent in the applicable Final Terms;
(d) in respect of Currency Warrants:
(i) in the case of Currency Warrants relating to a Basket of Subject Currencies, an amount equal to the sum of the values calculated for each Subject Currency at the spot rate of exchange appearing on the Relevant Screen Page at the Relevant Time on (A) if Averaging is not specified in the applicable Final Terms, the Valuation Date or (B) if Averaging is specified in the applicable Final Terms, an Averaging Date, for the exchange of such Subject Currency into the Base Currency (expressed as the number of units (or part units) of such Base Currency for which one unit of the Subject Currency can be exchanged) or, if such rate is not available, the arithmetic mean (rounded, if necessary, to four decimal places, with 0.00005 being rounded upwards) as determined by or on behalf of the Calculation Agent of the bid and offer Subject Currency/Base Currency exchange rates (expressed as aforesaid) at the Relevant Time on the Valuation Date or such Averaging Date, as the case may be, of two or more leading dealers (as selected by the Calculation Agent) on a foreign exchange market (as selected by the Calculation Agent), multiplied by the relevant Multiplier; and
(ii) in the case of Currency Warrants relating to a single Subject Currency, an amount equal to the spot rate of exchange appearing on the Relevant Screen Page at the Relevant Time on (A) if Averaging is not specified in the applicable
Final Terms, the Valuation Date or (B) if Averaging is specified in the applicable Final Terms, an Averaging Date, for the exchange of such Subject Currency into the Base Currency (expressed as the number of units, or part units, of the Base Currency for which one unit of the Subject Currency can be exchanged) or, if such rate is not available, the arithmetic mean (rounded, if necessary, to four decimal places, with 0.00005 being rounded upwards) as determined by or on behalf of the Calculation Agent of the bid and offer Subject Currency/Base Currency exchange rates (expressed as aforesaid) at the Relevant Time on the Valuation Date or such Averaging Date, as the case may be, of two or more leading dealers (as selected by the Calculation Agent) on a foreign exchange market (as selected by the Calculation Agent);
(e) in respect of Commodity Warrants, the provisions relating to the calculation of the Settlement Price will be set out in the applicable Final Terms.
In the case of Share Warrants and Index Warrants, if the Shares (as defined below) are traded on the Italian markets managed by Borsa Italiana S.p.A., or the relevant Index (as defined below) is managed by Borsa Italiana S.p.A. or other companies with which Borsa Italiana S.p.A. has entered into specific agreements, Settlement Price shall mean:
- with respect to Share Warrants, the official reference price calculated by the relevant Exchange;
- with respect to Index Warrants, the official opening price as calculated by the relevant Index Sponsor and/or established by the relevant Related Exchange, as specified in the applicable Final Terms.
"Valuation Date" means the Valuation Date specified in the applicable Final Terms or, if such day is not a Scheduled Trading Day, the immediately succeeding Scheduled Trading Day unless, in the opinion of the Calculation Agent, such day is a Disrupted Day. If such day is a Disrupted Day, then:
(a) where the Warrants are Index Warrants (and Related Exchange is specified in the applicable Final Terms):
(i) if Automatic Exercise is specified in the applicable Final Terms (or in the case of exercise of the Index Warrants on the Exercise Date), the Settlement Price of the relevant Index shall be that established for the same purpose by the relevant Related Exchange on such date and in such manner according to its applicable regulations. If the relevant Related Exchange does not establish the Settlement Price of the relevant Index within eight Scheduled Trading Days immediately following the Scheduled Valuation Date: (i) that eight Scheduled Trading Day shall be deemed to be the Valuation Date, notwithstanding the fact that such day is a Disrupted Day; and (ii) the Calculation Agent shall calculate the Settlement Price in its good faith and absolute discretion, by taking into account the market conditions, a price of the Index estimated on the basis of last announced prices of the components and such other conditions or factors that the Calculation Agent reasonably considers to be relevant;
(ii) in the case of exercise of the Warrant during the Exercise Period, the first succeeding Scheduled Trading Day that is not a Disrupted Day is deemed to be the Valuation Date, unless each of the eight Scheduled Trading Days immediately following the Scheduled Valuation Date is a Disrupted Day. In this latter case: (i) that eight Scheduled Trading Day shall be deemed to be the Valuation Date, notwithstanding the fact that such day is a Disrupted Day; and
(ii) the Calculation Agent shall calculate the Settlement Price in its good faith and absolute discretion, by taking into account the market conditions, a price of the Index estimated on the basis of last announced prices of the components and such other conditions or factors that the Calculation Agent reasonably considers to be relevant;
(b) where the Warrants are Share Warrants, the first succeeding Scheduled Trading Day that is not a Disrupted Day is deemed to be the Valuation Date, unless each of the eight Scheduled Trading Days immediately following the Scheduled Valuation Date is a Disrupted Day. In this latter case: (i) that eight Scheduled Trading Day shall be deemed to be the Valuation Date, notwithstanding the fact that such day is a Disrupted Day; and
(ii) the Calculation Agent shall calculate the Settlement Price in its good faith and absolute discretion, by taking into account the market conditions, a price of the Shares estimated on the basis of last announced prices of the Shares and such other conditions or factors that the Calculation Agent reasonably considers to be relevant;
(c) where the Warrants are Fund Linked Warrants, the first succeeding Business Day that is not a Disrupted Day for the relevant Fund shall be deemed to be the relevant Valuation Date, unless each of the eight Business Days immediately following the scheduled Valuation Date, is a Disrupted Day with respect to such Fund. In that case:
(i) that eighth Business Day, with respect to the original Valuation Date, shall be deemed to be the Valuation Date, notwithstanding the fact that such day is a Disrupted Day with respect to the Fund; and
(ii) the Calculation Agent shall calculate the net asset value (the NAV) of the relevant Fund in its good faith and absolute discretion, by taking into account the market conditions, and/or a level of the NAV estimated on the basis of the last announced values for such Fund components, and/or such other conditions or factors that the Calculation Agent may reasonably consider to be relevant.
(d) where the Warrants are Currency Warrants, the first succeeding Scheduled Trading Day that is not a Disrupted Day is deemed to be the Valuation Date, unless each of the eight Scheduled Trading Days immediately following the Scheduled Valuation Date is a Disrupted Day. In this latter case: (i) that eight Scheduled Trading Day shall be deemed to be the Valuation Date, notwithstanding the fact that such day is a Disrupted Day; and
(ii) the Calculation Agent shall calculate the Settlement Price in its good faith and absolute discretion, by taking into account the market conditions and such other conditions or factors that the Calculation Agent reasonably considers to be relevant;
(e) where the Warrants are Warrants other than those referred to under let. (a), (b) and (c) above, the Valuation Date shall be determined pursuant to the criteria specified in the applicable Final Terms.
In the case of Share Warrants and Index Warrants, if the Shares (as defined below) are traded on the Italian regulated markets managed by Borsa Italiana S.p.A., or the relevant Index (as defined below) is managed by Borsa Italiana S.p.A. or other companies with which Borsa Italiana S.p.A. has entered into specific agreements, Valuation Date shall mean:
a) with respect to Share Warrants,
i. if Automatic Exercise is specified in the applicable Final Terms, the Business Day immediately preceding the Exercise Date (or Expiration Date, as the case may be) of the Warrants;
ii. in the case of exercise of the Warrants during the Exercise Period, the relevant Actual Exercise Date.
b) with respect to Index Warrants,
i. if Automatic Exercise is specified in the applicable Final Terms, the Exercise Date (or Expiration Date, as the case may be) of the Warrants;
ii. in the case of exercise of the Warrants during the Exercise Period, one Business Day immediately succeeding the relevant Actual Exercise Date.
"Valuation Time" means the Relevant Time specified in the applicable Final Terms or, in the case of Index Warrants or Share Warrants, if no Relevant Time is specified, the Scheduled Closing Time on the relevant Exchange on the relevant Valuation Date or Averaging Date, as the case may be, in relation to each Index or Share to be valued. If the relevant Exchange closes prior to its Scheduled Closing Time and the specified Valuation Time is after the actual closing time for its regular trading session, then the Valuation Time shall be such actual closing time.
4. Exercise Rights
Unless the applicable Final Terms specify that Monte Titoli is the relevant clearing system (in which case Condition 5(H) shall apply) or specify that a clearing system other than Clearstream, Luxembourg, Euroclear or Monte Titoli is applicable (in which cases the relevant provisions on the exercise of the Warrants will be set out in the applicable Final Terms), the provision of this Condition 4 shall apply.
(A) Exercise Period
(i) American Style Warrants
American Style Warrants are exercisable on any Exercise Business Day during the Exercise Period, subject as provided in Condition 6.
If Automatic Exercise is not specified as applying in the applicable Final Terms, any American Style Warrant with respect to which no Voluntary Exercise Notice (as defined below) has been delivered in the manner set out in Condition 5, at or prior to 10.00 a.m., Luxembourg or Brussels time, as the case may be, on the last Exercise Business Day of the Exercise Period (the Expiration Date), shall become void.
If Automatic Exercise is specified as applying in the applicable Final Terms any such American Style Warrant with respect to which no Voluntary Exercise Notice has been delivered in the manner set out in Condition 5, at or prior to 10.00 a.m. (Luxembourg or Brussels time) on the Expiration Date, as the case may be, shall be automatically exercised on the Expiration Date and the provisions of Condition 5(F) shall apply.
The Exercise Business Day during the Exercise Period on which a Voluntary Exercise Notice is delivered prior to 10.00 a.m., Luxembourg or Brussels time (as appropriate), to Clearstream, Luxembourg or Euroclear, as the case may be, and the copy thereof so received by the Principal Agent or, if Automatic Exercise is specified as applying in the applicable Final Terms and no Voluntary Exercise Notice has been delivered at or prior to 10.00 a.m., Luxembourg or Brussels time (as appropriate) on the Expiration Date, the Expiration Date is referred to herein as the "Actual Exercise Date". If any Voluntary Exercise Notice is received by Clearstream, Luxembourg or Euroclear, as the case may be, or if the copy thereof is received by the Principal Agent, in each case, after 10.00 a.m., Luxembourg or Brussels time (as appropriate), on any Exercise Business Day during the Exercise Period, such Voluntary Exercise Notice will be deemed to have been delivered on the next Exercise Business Day, which Exercise Business Day shall be deemed to be the Actual Exercise Date, provided that any such Warrant in respect of which no Voluntary Exercise Notice has been delivered in the manner set out in Condition 5 at or prior to 10.00 a.m. Luxembourg or Brussels time (as appropriate) on the Expiration Date shall (i) if Automatic Exercise is not specified as applying in the applicable Final Terms, become void or (ii), if Automatic Exercise is specified as applying in the applicable Final Terms, be automatically exercised on the Expiration Date as provided above.
(ii) European Style Warrants
European Style Warrants are only exercisable on the Exercise Date, subject as provided in Condition 6.
If Automatic Exercise is not specified as applying in the applicable Final Terms, any European Style Warrant with respect to which no Voluntary Exercise Notice has been delivered in the manner set out in Condition 5, at or prior to 10.00 a.m., Luxembourg or Brussels time (as appropriate) on the Actual Exercise Date, shall become void.
If Automatic Exercise is specified as applying in the applicable Final Terms, any such European Style Warrant with respect to which no Voluntary Exercise Notice has been delivered in the manner set out in Condition 5, at or prior to 10.00 a.m., Luxembourg or Brussels time (as appropriate) on the Actual Exercise Date, shall be automatically exercised on the Actual Exercise Date and the provisions of Condition 5(F) shall apply.
(B) Cash Settlement
If the Warrants are Cash Settled Warrants, each such Warrant or, if Units are specified in the applicable Final Terms, each Unit entitles its Holder, upon due exercise (except in relation to Warrants where Automatic Exercise applies) and subject to certification as to non-U.S. beneficial ownership, to receive from the Issuer on the Settlement Date a Cash Settlement Amount (which shall not be less than zero) calculated by the Calculation Agent at the Valuation Date and equal to:
(i) where Averaging is not specified in the applicable Final Terms:
(a) if such Warrants are Call Warrants,
[(Settlement Price less Exercise Price) multiplied by Parity] divided by Exchange Rate;
(b) if such Warrants are Put Warrants,
[(Exercise Price less Settlement Price) multiplied by Parity] divided by Exchange Rate; and
(c) if such Warrants are neither Call Warrants nor Put Warrants, the Cash Settlement Amount will be as specified in the applicable Final Terms; or
(ii) where Averaging is specified in the applicable Final Terms, the Cash Settlement Amount will be as specified in the applicable Final Terms.
Any amount determined pursuant to the above, if not an amount in the Settlement Currency, will be converted into the Settlement Currency at the Exchange Rate specified in the applicable Final Terms for the purposes of determining the Cash Settlement Amount. Unless otherwise specified in the applicable Final Terms under the item "Rounding", the Cash Settlement Amount will be rounded to the nearest four decimal places in the relevant Settlement Currency, 0.00005 being rounded upwards, with Warrants exercised at the same time by the same Holder being aggregated for the purpose of determining the aggregate Cash Settlement Amounts payable in respect of such Warrants or Units, as the case may be.
(C) Physical Settlement
(i) Exercise Rights in relation to Physical Delivery Warrants
If the Warrants are Physical Delivery Warrants, each such Warrant or, if Units are specified in the applicable Final Terms, each Unit, as the case may be, entitles its Holder, upon due exercise and subject to certification as to non-U.S. beneficial ownership, to receive from the Issuer on the Settlement Date the Entitlement subject to payment of the relevant Exercise Price and any other sums payable. The method of delivery of the Entitlement is set out in the applicable Final Terms.
Warrants or Units, as the case may be, exercised at the same time by the same Holder will be aggregated for the purpose of determining the aggregate Entitlements in respect of such Warrants or Units, as the case may be, provided that the aggregate Entitlements in respect of the same Holder will be rounded down to the nearest whole unit of the Relevant Asset or each of the Relevant Assets, as the case may be, in such manner as the Calculation Agent shall determine. Therefore, fractions of the Relevant Asset or of each of the Relevant Assets, as the case may be, will not be delivered and in lieu thereof the relevant Holder will receive an amount in the Settlement Currency equal to the value of any such fractions after such aggregation as calculated by the Calculation Agent from such source(s) as it may select (and converted, if necessary, into the Settlement Currency by reference to such exchange rate as the Calculation Agent deems appropriate). Payment of any such amount will be made to the Holder's account specified in the relevant Voluntary Exercise Notice for value on the Settlement Date.
For the purposes of any Warrant which is a Physical Delivery Security (i) the Issuer shall be under no obligation to register or procure the registration of any Holder or any other person as the
registered shareholder in the register of members of any Share Company or Basket Company (both as defined in Condition 15(B)), as the case may be, and (ii) the Issuer shall not be obliged to account to any Holder or any person for any entitlement received or that is receivable in respect of any Shares, comprising the Entitlement in respect of any Warrant or Unit if the date on which the Shares are first traded on the relevant Exchange from such entitlement is on or prior to the Actual Exercise Date.
Following exercise of a Share Warrant which is a Physical Delivery Warrant, all dividends on the relevant Shares to be delivered will be payable to the party that would receive such dividend according to market practice for a sale of the Shares executed on the relevant Actual Exercise Date and to be delivered in the same manner as such relevant Shares. Any such dividends to be paid to a Holder will be paid to the account specified by the Holder in the relevant Voluntary Exercise Notice as referred to in Condition 5(A)(2)(vi).
(ii) Settlement Disruption
If, following the exercise of Physical Delivery Warrants, in the opinion of the Calculation Agent, delivery of the Entitlement using the method of delivery specified in the applicable Final Terms or such commercially reasonable manner as the Calculation Agent has determined it is not practicable by reason of a Settlement Disruption Event (as defined below) having occurred and continuing on any Settlement Date, then such Settlement Date for such Warrants shall be postponed to the first following Settlement Business Day in respect of which there is no such Settlement Disruption Event, provided that the Issuer may elect in its sole discretion to satisfy its obligations in respect of the relevant Warrant or Unit, as the case may be, by delivering the Entitlement using such other commercially reasonable manner as it may select and in such event the Settlement Date shall be such day as the Issuer deems appropriate in connection with delivery of the Entitlement in such other commercially reasonable manner. For the avoidance of doubt, where a Settlement Disruption Event affects some but not all of the Relevant Assets comprising the Entitlement, the Settlement Date for the Relevant Assets not affected by the Settlement Disruption Event will be the originally designated Settlement Date. In the event that a Settlement Disruption Event will result in the delivery on a Settlement Date of some but not all of the Relevant Assets comprising the Entitlement, the Calculation Agent shall determine in its discretion the appropriate pro rata portion of the Exercise Price to be paid by the relevant Holder in respect of that partial settlement.
For so long as delivery of the Entitlement is not practicable by reason of a Settlement Disruption Event, then in lieu of physical settlement and notwithstanding any other provision hereof, the Issuer may elect in its sole discretion to satisfy its obligations in respect of the relevant Warrant or Unit, as the case may be, by payment to the relevant Holder of the Disruption Cash Settlement Price (as defined below) on the third Business Day following the date that notice of such election is given to the Holders in accordance with Condition 10. Payment of the Disruption Cash Settlement Price will be made in such manner as shall be notified to the Holders in accordance with Condition 10. The Calculation Agent shall give notice as soon as practicable to the Holders in accordance with Condition 10 that a Settlement Disruption Event has occurred.
No Holder shall be entitled to any payment in respect of the relevant Warrant or Unit, as the case may be, in the event of any delay in the delivery of the Entitlement due to the occurrence of a Settlement Disruption Event and no liability in respect thereof shall attach to the Issuer.
For the purposes hereof: