Definizione di Underlying Reference

Underlying Reference is as defined in Condition 16.7 and 34.9(b); "Underlying Reference Level" is as defined in Condition 34.9(b); "Underlying Share" is as defined in Condition 2.1;

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

Underlying Reference. Strike Price means, in respect of an Underlying Reference, the Underlying Reference Closing Price Value for such Underlying Reference on the Strike Date. Underlying Reference Closing Price Value means, in respect of a SPS Valuation Date, the Italian Securities Reference Price in respect of such day;

Examples of Underlying Reference in a sentence

• Applicable Final Terms may specify that the relevant Issuer will not provide post-issuance information in relation to the Underlying Reference.

• Risks relating to the calculation and design of the Underlying In addition to the leverage effect described above, costs (e.g. securities lending costs) and fees (e.g. an index fee) may be incurred, depending on the structure of the Factor Index and of the Underlying Reference Instru- ment, that also have the effect of reducing the value of the Factor Index and therefore the level of the Underlying.

• Certain entities within the Group or its affiliates (including, if applicable, any Manager) may also engage in trading activities (including hedging activities) relating to the Underlying Reference or Reference Entity and other instruments or derivative products based on or relating to the Underlying Reference or Reference Entity of any Securities for their proprietary accounts or for other accounts under their management.

• While the use of leverage allows for potential multiples of a return (assuming a return is achieved) when the Underlying Reference moves in the anticipated direction, it will conversely magnify losses when the Underlying Reference moves against expectations.

• BNPP B.V., BNPP and their affiliates (including, if applicable, any Manager) may also issue other derivative instruments in respect of the Underlying Reference.

More Definitions of Underlying Reference

Underlying Reference is as set out in item 26 (a) below;

Underlying Reference. Initial means as set out in Specific Provisions for each series above.

Underlying Reference is as defined in Condition 16.6 and 34.9(b);

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

Underlying Reference is as set out in § 26 (a);

Underlying Reference. Value means, in respect of an

Underlying Reference. Strike Price is as set out in Specific Provisions for each series above.