Definizione di Reference Instrument

Reference Instrument means EURO STOXX® Banks Index.

Reference Instrument means STOXX® Europe 600 Index .

Reference Instrument means Xxxxx Xxxxx Oil Future. Currency: USD ISIN: XC0009677409 Bloomberg symbol: CO1 Comdty "Current Reference Instrument" means the Initial Reference Instrument from the Index Start Date until the first Rollover Date. Once the Index Closing Value on the first Rollover Date has been calculated and determined, this Reference Instrument loses its validity and is replaced by the Reference Instrument contract for the Contract Months specified above next falling due on the Reference Exchange. On each subsequent Rollover Date, following the calculation and determi- nation of the Index Closing Value, the Current Reference Instrument is replaced in turn by the Reference Instrument contract falling due on the Reference Exchange in the next following Contract Month (respectively a "Rollover").

Examples of Reference Instrument in a sentence

• The respective current index level is calculated by the Index Calculation Agent on a continuous basis during the trading period of the Reference Instrument on the Reference Exchange on each Index Calculation Day, rounded to two decimal places and published in accordance with section E).

• This leverage effect occurs with either positive or negative movements in the price of the Reference Instrument, having a disproportionate effect on the value of the Factor Index.

• If the Reference Instrument (Index) is cancelled or replaced by a different index concept, or if the license agreement between the Reference Exchange and the Index Calculation Agent cannot be renewed, the Index Calculation Agent determines – where appropriate by applying an adjusted Reference Instrument Price for the Reference Instrument at time t (Rt) – whether and which different index concept will be used in the future as a basis for calculating the Factor Index.

• If the Reference Instrument is no longer calculated and determined and/or published by the Reference Exchange but by another person, company or institution that the Index Calculation Agent in its reasonable discretion considers to be suitable (“Substitute Reference Exchange”), then the Factor Index shall be calculated where applicable on the basis of the Reference Instrument calculated and published by the Substitute Reference Exchange.

• Index name: 7X Long Index linked to DAX® (the “Factor Index”) Reference Instrument: DAX® Index Calculation Agent: Bank Vontobel AG, Xxxxxxxxxxxxxxx 00, 0000 Xxxxxx, Xxxxxxxxxxx Information Page: xxxxx://xxxxxxx.xxxxxxxx.xxx and Reuters page .CH0325363171 The composition and calculation of the Factor Index specified above is described in the following.

More Definitions of Reference Instrument

Reference Instrument means DAX®.

Reference Instrument. Enel S.p.A., common shares Reference Instrument ISIN: IT0003128367 Index Calculation Agent: ICF BANK AG, Xxxxxxxxxxxxx 0, 00000 Xxxxxxxxx, Xxxxxxx Information Page: xxxxx://xxx-xxxxxxx.xx/

Reference Instrument. Natural Gas (Xxxxx Xxx) Future Index Calculation Agent: Bank Vontobel AG, Xxxxxxxxxxxxxxx 00, 0000 Xxxxxx, Xxxxxxxxxxx Information Page: xxxxx://xxxxxxx.xxxxxxxx.xxx and Reuters page <.CH0327288442> (the latter containing index levels only) The composition and calculation of the Factor Index specified above is described in the following. The Index Calculation Agent will make an index guide available on the Information Page for each Fac- tor Index, containing this description together with the stipulations in the Final Terms. The index guide constitutes the basis for calculating and publishing the Factor Index. The Factor Index reflects price movements in the Reference Instrument with a leverage factor of 7. A decrease in the price of the Reference Instrument since the most recent calculation of an Index Clos- ing Value results in a positive change in the Factor Index as compared to the previous price of the Factor Index and vice versa. The Factor Index therefore replicates a "short" strategy. The Factor Index consists of a leverage component and a financing component. The leverage component inversely tracks an investment in the Reference Instrument, whereby move- ments in the price of the Reference Instrument are multiplied by the Leverage (Factor). This leverage effect occurs with either positive or negative movements in the price of the Reference Instrument, having a disproportionate effect on the value of the Factor Index. For example (leaving aside the financing component):

Reference Instrument means Coffee Future. Currency: USD ISIN: US6289851031 Bloomberg symbol: KC1 Comdty "Current Reference Instrument" means the Initial Reference Instrument from the Index Start Date until the first Rollover Date. Once the Index Closing Value on the first Rollover Date has been calculated and determined, this Reference Instrument loses its validity and is replaced by the Reference Instrument contract for the Contract Months specified above next falling due on the Reference Exchange. On each subsequent Rollover Date, following the calculation and determi- nation of the Index Closing Value, the Current Reference Instrument is replaced in turn by the Reference Instrument contract falling due on the Reference Exchange in the next following Contract Month (respectively a "Rollover").

Reference Instrument means WTI Light Sweet Crude Oil Future. Currency: USD ISIN: US12573F1084 Bloomberg symbol: CL1 Comdty "Current Reference Instrument" means the Initial Reference Instrument from the Index Start Date until the first Rollover Date. Once the Index Closing Value on the first Rollover Date has been calculated and determined, this Reference Instrument loses its validity and is replaced by the Reference Instrument contract for the Contract Months specified above next falling due on the Reference Exchange. On each subsequent Rollover Date, following the calculation and determi- nation of the Index Closing Value, the Current Reference Instrument is replaced in turn by the Reference Instrument contract falling due on the Reference Exchange in the next following Contract Month (respectively a "Rollover").

Reference Instrument means Xxxxx Xxxxx Oil Future. Currency: USD ISIN: XC0009677409 Bloomberg symbol: CO1 Comdty "Current Reference Instrument" means the Iuitial Refereuce Iustrumeut from the Iudex Start Date until the first Rollover Date. Once the Iudex Closiuφ Value on the first Rollover Date has been calculated and determined, this Refereuce Iustrumeut loses its validity and is replaced by the Refereuce Iustrumeut contract for the Coutract Mouths specified above next falling due on the Refereuce Exchauφe. On each subsequent Rollover Date, following the calculation and determi- nation of the Iudex Closiuφ Value, the Curreut Refereuce Iustrumeut is replaced in turn by the Refereuce Iustrumeut contract falling due on the Refereuce Exchauφe in the next following Coutract Mouth (respectively a "Rollover").

Reference Instrument means Xxxxx Xxxxx Oil Future. Currency: USD ISIN: XC0009677409 Bloomberg symbol: CO1 Comdty "Current Reference Instrument" means the xxxxx~x xXXXxXxXX xxxxxxxXxx xxxx xxx xxXXx xx~xx x~xX until the first oçääçîÉê a~íÉ. Once the fåÇÉñ `äçëáåÖ s~äìÉ on the first oçääçîÉê a~íÉ has been calculated and determined, this oÉÑÉêÉåÅÉ fåëíêìãÉåí loses its validity and is replaced by the oÉÑÉêÉåÅÉ fåëíêìãÉåí contract for the `çåíê~Åí jçåíÜë specified above next falling due on the oÉÑÉêÉåÅÉ bñÅÜ~åÖÉ. On each subsequent oçääçîÉê a~íÉ, following the calculation and determi- nation of the xxXXx `xxxxxX x~xxX, xxx `xxxXxx xXXXxXxXX xxxxxxxXxx is replaced in turn by the oÉÑÉêÉåÅÉ fåëíêìãÉåí contract falling due on the oÉÑÉêÉåÅÉ bñÅÜ~åÖÉ in the next following `çåíê~Åí jçåíÜ (respectively a "Rollover").