NASDAQ-100 DIVIDEND POINT INDEX. Index Methodology

Transcription

1 NASDAQ-100 DIVIDEND POINT INDEX Index Mehodology April 2017

2 TABLE OF CONTENTS TABLE OF CONTENTS 1. Inroducion 2. Index calculaion 2.1 Formula dividends Rese of he index value 2.2 Oher adjusmens 3. General Correcion Policy 4. Discreionary Adjusmens Inellecual Propery Righs Disclaimer Limis of Liabiliy

3 1. INTRODUCTION Nasdaq hereinafer referred o as he Index Owner, owns he index Nasdaq-100 Dividend Poin Index (he Index ). The Index Owner is also he index provider ( Index Provider ) and he index calculaor ( Index Calculaor ). The consrucion and adopion of he regulaory sysem for he Index will hereinafer be called he Nasdaq-100 Dividend Poin Index Mehodology. The Nasdaq-100 Index includes 100 of he larges non-financial companies lised on The Nasdaq Sock Marke, based on marke capializaion. I does no conain securiies of financial companies including invesmen companies. The Nasdaq-100 Dividend Poin Index ( NDXDIV ) is calculaed as he running oal of ordinary dividends paid by he consiuens of he Nasdaq-100 Index ( NDX ), expressed in index poins. The Index is rese o zero once a year in connecion wih he derivaives expiraion in December. Using he Nasdaq-100 Dividend Poin Index as he underlying in financial producs, invesors can hedge or gain exposure o he dividend performance of he Nasdaq-100 Index. 2. INDEX CALCULATION 2.1 FORMULA The Index is calculaed using he following formula: I n i 1 q i, * d i, IndexDivisor I 1 I = Index level a ime () qi, = Number of shares of company (i) applied in he NDX Index a ime () di, = Ordinary dividend per share for company (i) wih Ex-dae a ime () Index Divisor = The divisor for NDX Index a ime () DIVIDENDS Ordinary dividends are included in he Index calculaion. An exraordinary dividend is a par of he calculaion only hrough he adjused Index Divisor. See he Nasdaq-100 Index Mehodology for definiions of ordinary and exraordinary dividends. 1 1 If a dividend is quoed in a differen currency han he index mehodology, he dividend amoun will be recalculaed using he -1 WM Company Closing Spo Rae (1600 UK), where -1 is he rading day before he Ex-day

4 2.1.2 RESET OF THE INDEX VALUE The Index value is rese o zero each year afer he close on he hird Friday in December, o coincide wih he derivaive December expiraion. Consequenly he index measures he oal dividend poins of he NDX since he previous rese dae. 2.2 OTHER ADJUSTMENTS The Index Calculaor may, wih respec o adjusmens, make an adjusmen in circumsances oher han hose specified above or decide o modify a provision regarding adjusmen or no o implemen an adjusmen. 3. GENERAL CORRECTION POLICY Generally, he Index is mainained on an ongoing basis and any corporae acions are handled simulaneously as hey occur, given ha all necessary informaion is publically available. However, here may be evens where here is no sufficien public informaion available or ha he even is announced pos ex-day. In such cases, he Index Calculaor will decide on a case by case basis wheher he even can be implemened in connecion o he regularly scheduled Index reviews or if a hisorical correcion of he affeced Indexes is warraned. Any hisorical correcion o an Index is limied o a ime frame of six (6) monhs prior, couning from he dae where he correcion is being implemened. If such a correcion would occur, i will be announced according o he General Announcemen Policy and new Index closing values will be provided as well as sar of day and end of day Index weighings and summary repor. 4. DISCRETIONARY ADJUSTMENTS The Index Calculaor may, due o special circumsances, if deemed essenial, apply discreionary adjusmens o he Index.

5 INTELLECTUAL PROPERTY RIGHTS Nasdaq and is affiliaes are he sole and exclusive owners of all righs and iles o he Indexes and he rademarks relaed hereo. For any daa used or producs based on, or linked o, he Indexes, a license from Nasdaq or is affiliaes is required. This documen and is conens may no be reproduced, redisribued, sored in rerieval sysem, or passed on, direcly or indirecly, o any oher person or published, or ransmied by any oher form or means wheher elecronic, mechanical, phoocopying, recording or oherwise in whole or in par, for any purpose wihou he prior wrien consen of Nasdaq or is affiliaes. DISCLAIMER The Index Calculaor may, from ime o ime, exercise reasonable discreion as i deems appropriae in order o ensure Index inegriy. The Index Calculaor may also, due o special circumsances, if deemed essenial, apply discreionary adjusmens o ensure and mainain he high qualiy of he index consrucion and calculaion. The Index Calculaor and is affiliaes do no guaranee he accuracy or compleeness of any Index or of he daa used o calculae he Index or deermine he Index componens, or he uninerruped or un-delayed calculaion or disseminaion of any Index. The Index Calculaor and is affiliaes do no guaranee ha any Index accuraely reflecs pas, presen, or fuure marke performance. LIMITS OF LIABILITY The Index Calculaor and is affiliaes assume no liabiliy of any naure (including, bu no limied o negligence) for any loss, damages, coss, claims and expenses relaed o or arising ou of he use of he Indexes or any daa included herein. The Index Calculaor and is affiliaes expressly disclaims all warranies, expressed or implied, as o he availabiliy, accuracy, uninerruped calculaion, compleeness, merchanabiliy or finess for a paricular purpose wih respec o he Indexes or any daa included herein. Neiher he Index Calculaor, is affiliaes nor any hird pary makes any express or implied warranies or represenaions wih respec o he Indexes, he resuls o be obained by heir use or he value of he Indexes a any given ime. Wihou limiing any of he foregoing, in no even shall he Index Calculaor or any of is affiliaes have any liabiliy for any direc damages, los profis or special, incidenal, puniive, indirec, or consequenial damages, even if noified of he possibiliy of such damages.