SHB Brent Crude Oil. Index Rules. Version as of 22 October 2009

Transcription

1 SHB Bren rude Oil Index Rules Version as of 22 Ocober 2009

2 1. Index Descripions The SHB Bren rude Oil index (he Index ) measures he reurn from changes in he price of fuures conracs, which are rolled on a regular basis, on Bren crude oil. The Index is he propery of Svenska Handelsbanken AB (publ) ( Handelsbanken ). 2. Index Rules 2.1 Terms and definiions relaing o he Index Business Days Sockholm alculaion Dae, "" any Scheduled Valuaion Dae on which no Index Disrupion Even occurs; alculaion Dae ( 1) means he preceding alculaion Dae o he alculaion Dae () Index Index alculaor Index urrency SHB Bren rude Oil NASDAQ OMX Group, Inc US Dollar ( USD ) Index Base Dae, " 0 " Index Launch Dae Index Level, " I " in respec of any alculaion Dae (), he level of he Index calculaed and announced by he Index alculaor on such dae a he Valuaion Time, in accordance wih secion 2.4 Index Owner Index Sponsor Iniial value of he Index, I " " 0 Scheduled Valuaion Day Valuaion Time Svenska Handelsbanken AB (publ) NASDAQ OMX Group, Inc he value of he Index was se o 500 as of he Index Base Dae any day on which he Underlying Asse Exchange is scheduled o be open for is regular rading sessions. he ime when he urren onrac Level is scheduled o be published by he Underlying Asse Exchange. 2.2 Terms and definiions relaing o he Underlying Asse Underlying Asse he closes o mauriy IE Bren rude fuures conrac (shor name LO ) lised on he Underlying Asse Exchange. Such fuure conracs are rolled periodically as described in Fuures Rolling below.

3 Underlying Asse Exchange The InerconinenalExchange, Inc. Fuures Rolling Roll Dae urren onrac "F " Nex onrac "F N " onrac Monh Relaed Exchange urren onrac Level F The Underlying Asse fuures conracs are rolled from he urren onrac ino he Nex onrac on he Valuaion Time on each Roll Dae. he fifh Scheduled Valuaion Day in he onrac Monh of he currenly used conrac (or, if such day is no a Business Day, he nex following Scheduled Valuaion Day ha is a Business Day). he fuures conrac deermined on he previous Roll Dae o be used for calculaion of he Index Level. The urren onrac as of he Index Base Dae is he January 2009 conrac. In relaion o a Roll Dae, he fuures conrac applicable o he nex following onrac Monh. A fuures conrac is deemed o be applicable o a onrac Monh if he firs occurring of noice period, las rading day or delivery period falls wihin such onrac Monh bu afer he fifh Scheduled Valuaion Day of such monh. January, February, March, April, May, June, July, Augus, Sepember, Ocober, November and December. each exchange or quoaion sysem where rading has a maerial effec (as deermined by he Index alculaor) on he overall marke for Bren crude oil or for fuures or opions conracs relaing o Bren crude oil. he official selemen price of he urren onrac, on he Underlying Asse Exchange relaing o alculaion Dae. 2.4 Deerminaion of he Index Level I I (as of he index Base Dae) As of each alculaion Dae (), Index Level I is deermined by he Index alculaor in accordance wih he following formula: I I 1 F F 1 3. Index Disrupion Even Index Disrupion Even means he occurrence of any of he following siuaions on he Underlying Asse Exchange or a Relevan Exchange which he Index alculaor, in consulaion wih he Index Owner, deems maerial and relevan: - he Underlying Asse Exchange or Relevan Exchange fails o publish or make public he marke value of he Underlying Asse or in derivaive conracs on he Underlying Asse or where such marke value is unavailable o he Index alculaor for any oher reason;

4 - rading in he Underlying Asse or in derivaive conracs on Bren crude oil is suspended or, significanly resriced; - wih respec o a Roll Dae: he liquidiy of he Underlying Asse is maerially impaired. 4. onsequences of an Index Disrupion Even If an Index Disrupion Even occurs on a Scheduled Valuaion Day, here will be no level for he Index calculaed or announced on such day. If an Index Disrupion Even coninues for weny consecuive Scheduled Valuaion Days, hen he Index alculaor may permanenly cancel he Index on such wenieh Scheduled Valuaion Day. If an Index Disrupion Even occurs on a Roll Dae, he Fuures Rolling shall be posponed o he nex following Scheduled Valuaion Day which he Index Owner, in consulaion wih he Index alculaor, deems appropriae. If no such appropriae Scheduled Valuaion Day can be deermined, he Fuures Rolling shall occur a he las known price from he Underlying Asse Exchange prior o such even. 5. Index Adjusmen Even Index Adjusmen Even means he occurrence of any of he following siuaions on he Underlying Asse Exchange or a Relevan Exchange which he Index alculaor, in consulaion wih he Index Owner, deems maerial and relevan: - all rading or pricing of he Underlying Asse or in derivaive conracs on Bren crude oil ceases permanenly; - he mehod for calculaing he price of he Underlying Asse or in derivaive conracs on Bren crude oil is changed significanly; - he composiion or conen of a he Underlying Asse or in derivaive conracs on Bren crude oil is changed significanly; or - he rolling schedule of he Underlying Asse is changed. Following he occurrence of an Index Adjusmen Even, he Index alculaor, in consulaion wih he Index Owner may make an adjusmen or decide o modify a provision regarding adjusmen or permanenly cancel he Index o accoun for such even. Following he occurrence of an even which causes he adjusmen o he erms of he Underlying Asse or on any fuures or opions conrac on he Underlying Asse raded on any Relaed Exchange, he Index alculaor will make he corresponding adjusmens, if any, or any oher adjusmens ha he Index alculaor deermines o be appropriae o accoun for such even. 6. Index Exraordinary Even If, in he opinion of he Index alculaor, echnical or oher reasons, render he auomaic ransmission of price informaion or oher informaion regarding he Underlying Asse eiher wholly or parially unavailable, or if such price informaion is unreliable or in any oher way fails o reflec he developmen of marke prices in he Underlying Asse, he Index alculaor may uilise anoher source of informaion and hereby apply oher bases for he calculaion of he Index han hose which oherwise are saed in hese rules. 7. Limis of Liabiliy The Index Owner is no liable for loss or damage resuling from Swedish or foreign legislaive enacmen, acions of Swedish or foreign auhoriies, war, power failure, elecommunicaion failure, fire, waer damage, srike, blockade, lockou, boyco, or oher similar circumsances ouside he

5 conrol of he Index Owner. The reservaion wih respec o srikes, blockade, lockou and boyco also applies if he Index Owner adops or is he objec of such conflic measures. The Index Owner is no responsible in any circumsance for loss of daa, non-paymen of profis or oher indirec damage. The Index Owner provides no express or implied warranies regarding he resuls which may be obained as a consequence of he use of he Index or regarding he value of he Index a any given ime. The Index Owner shall in no case be liable for errors or defecs in he Index nor obligaed o provide noice of, or publish, errors in he Index. The SHB Bren rude Oil index ( Index ) is he exclusive propery of Svenska Handelsbanken AB, which has conraced wih NASDAQ OMX Group, Inc ( NASDAQ OMX ) o calculae and mainain he Index. NASDAQ OMX shall have no liabiliy for any errors or omissions in calculaing he Index.