Download investment deposit 96 – usa import partners

TERMS AND CONDITIONS OF OFFER
INVESTMENT DEPOSIT 96 – USA IMPORT PARTNERS
(hereinafter “Offer Conditions”)
OFFER
Name of offer
INVESTMENT DEPOSIT 96 – USA IMPORT PARTNERS
Subscription period1
26.06.2007 until 31.07.2007
Minimum deposit amount
EEK2 1000 (one thousand kroons)
Other amount requirements
Deposit amount must be a multiple of EEK 1 (one kroon)
Minimum volume of offer3
EEK 30,000,000 (thirty million kroons)
Approval of the offer
The Bank shall decide on approval or cancellation of the offer by the settlement
date of the investment deposit, the latest. Information on the approval or
cancellation of a certain offer shall be sent to the Depositor via U-Net and the
Bank’s webpage.
The Bank may cancel the offer if:
by the end of the subscription period the minimum volume of offer is not
achieved;
such unexpected events have occurred in course of the subscription period or
the Bank has learned of such events, which according to the Bank’s
professional opinion will make the established Offer Conditions
substantially unreasonable in the given market situation.
BASIC CONDITIONS OF INVESTMENT DEPOSIT
General description of the investment
deposit
Deposit period
Settlement date
Maturity date
Interest
INTEREST CONDITIONS
Investment deposit is a term deposit concluded in SEB Eesti Ühispank
(hereinafter the Bank) within the offer laid down hereinabove, the interest
payable on which depends on the changes in the value of the underlying asset
established with the present Offer Conditions.
3 (three) years and 18 (eighteen) days
01.08.2007
19.08.2010
The Bank shall calculate and pay the interest pursuant to the interest conditions
laid down with these Offer Conditions
Interest
The Bank shall calculate interest payable on the deposit by using the following
formula:
Deposit Amount x Participation x [(Settlement Price – Strike Price) / Strike
Price]
If the result of the above calculation is negative, the amount of interest is
considered 0 (zero).
Underlying asset
Equally weighted portfolio of indexes: Canada, Mexico, Germany, Japan, China
and South Korea.
Target Market
Shanghai, Shenzhen, Hong Kong, Toronto, Mexico, Frankfurt, Tokyo and
Seoul Stock Exchanges
40-60% (forty to sixty percent)
The Bank shall fix the exact rate of participation upon approval of the offer.
The Strike Price of the portfolio is 100. The Strike Price of the aforesaid Indexes
shall be closing values of the respective Index on the Initial Averaging Date.
The Bank shall notify the Depositors of the closing value of the index via U-Net
Participation
Strike price
Subscription period for the purpose of these Offer Conditions means the period of time foreseen for the conclusion of investment deposit
agreements within the given offer.
2
Deposit amount will be calculated in case of Euro current account using t h e E U R E E K c e n t r a l e x c h a n g e r a t e a s q u o t e d b y
t h e Eesti Pank.
3
Minimum volume of offer for the purpose of these Offer Conditions means the minimum aggregated amount of Deposit Amounts
deposited by all Depositors within the given offer. If this is not achieved the Bank has a right to cancel the offer.
1
Settlement Price
Initial Averaging Date
The Settlement Price of the Indexes shall be arithmetic mean of the closing
values of the respective Indexes on the Final Averaging Dates. The Settlement
Price of the portfolio shall be the weighted amount of the yield of the Indexes
times the Strike Price.
The Bank shall determine the Settlement Price and the Depositors will be notified
hereof via U-Net
03.08.2007
An Averaging Date must be an Exchange Business Day at all Target Markets. If
any of the listed dates is not an Exchange Business Day, the respective Averaging
Date shall be the immediately following Exchange Business Day at the Target
Market.
Final Averaging Dates
03.08.2009
03.01.2010
03.05.2010
03.09.2009
03.02.2010
03.06.2010
03.10.2009
03.03.2010
03.07.2010
03.11.2009
03.04.2010
03.08.2010
03.12.2009
An Averaging Date must be an Exchange Business Day at all Target Markets. If
any of the listed dates is not an Exchange Business Day, the respective Averaging
Date shall be the immediately following Exchange Business Day at the Target
Market.
Exchange Business Day
Means any calendar day, on which the Target Market, laid down in these Offer
Conditions, is open for trading on the usual terms.
If during the Deposit Term an event occurs or circumstances appear, which
pursuant to an applicable legal act, rules or regulations established by a
regulatory authority or a relevant practice is deemed a correction of interest
conditions 45, the Bank will be entitled without a respective consent of the
Depositor to adjust the interest conditions of this Investment Deposit with a
purpose to restore the initial content of the previously valid interest conditions.
Corrections to Interest Conditions
COMMISSION
Exit fee
The Bank shall make adjustment to the interest conditions by following the
principles established by a regulatory authority and accepted practice for
adjusting the transaction conditions in similar situations6. If pursuant to the
Bank’s professional opinion it is not possible to restore the initial content of the
previously valid interest conditions or replace any of the components serving as
basis for the interest calculation, the Bank has the right to decide if and how the
Interest shall be paid out.
Shall be paid in case of early closure of the investment deposit.
The amount of Exit Fee shall be 1-13% (one to thirteen percent) of the Deposit
Amount, however not less than EEK 100 (one hundred Estonian kroons). The
Bank shall determine the exact amount of Exit Fee pursuant to the expenses
incurred by the Bank upon early closure of the investment deposit. The longer is
the period remaining until maturity of the investment deposit, the higher shall be
the Exit Fee.
Additional information on the investment deposit is available on the webpage of SEB Eesti Ühispank www.seb.ee
4
A c o r r e c t i o n is an event or circumstance beyond the control of the Parties, the occurrence of which changes materially the interest conditions of the
investment deposit. A correction of interest conditions is normally e.g. split of shares being the underlying asset to the investment deposit, fund issue, takeover of
shares, merger of an issuing company with another company or bankruptcy of such a company and other events. When defining the correction the bank shall be
governed above all from the cases stipulated in “2002 ISDA Equity Derivatives Definitions”.
5
A correction is deemed also a change in legal acts or rules of competent bodies or interpretation of a legal act or rule by a competent body, if such changes or
interpretations in turn cause changing of the principles of calculating the interest established with the offer Conditions or a component hereof.
6
When adjusting the interest conditions the Bank shall be governed above al from the correction principles stipulated in the document “2002 ISDA Equity
Derivatives Definitions”