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ing the succession event, the credit default option based on Company XYZ Is adjusted Into two separate credit default option contracts that specify Company XYZ and Company LMN as reference entities. The cash settlement amount of the original credit default option and the premium multiplier are allocated b
option. Company XYZ spins off Company LMN. Company XYZ remains the obligor with respect to 70% of the principal amount of the anginal reference obligation. Company LMN becomes the obligor
and LMN are identified by the listing options market as the successor entities. Following the succession event. the credit default option based on Company XYZ Is adjusted into two separate credit default option contracts that specify Company XYZ and Company LMN as reference entities. The cash settlement
sue and its 8.5%September 1, 2030 bond issue are specified as its only reference obligations. During the life of the option, Company XYZ spins oft Company LMN. Company XYZ remains the obligor for the 2022 bond issue and LMN becomes the obligor of a debt security issued to holder of the 2030 bond issue. T
e entity for a credit default option contract, and its 8% May t5, 2022 bond issue is the only reference obligation. During the life of the option, Company XYZ spins off Company LMN. Company XYZ remains the obligor with respect to 70% of the principal amount of the original reference obligation. Company LM
default option contract, and its 8% May t5, 2022 bond issue is the only reference obligation. During the life of the option, Company XYZ spins off Company LMN. Company XYZ remains the obligor with respect to 70% of the principal amount of the original reference obligation. Company LMN 171 CONFIDENTIAL -
e entity for a credit default option contract, and its 8% May t5, 2022 bond issue is the only reference obligation. During the life of the option, Company XYZ spins off Company LMN. Company XYZ remains the obligor with respect to 70% of the principal amount of the original reference obligation. Company LM
default option contract, and its 8% May t5, 2022 bond issue is the only reference obligation. During the life of the option, Company XYZ spins off Company LMN. Company XYZ remains the obligor with respect to 70% of the principal amount of the original reference obligation. Company LMN 171 CONFIDENTIAL -
and LMN are identified by the listing options market as the successor entities. Following the succession event. the credit default option based on Company XYZ Is adjusted into two separate credit default option contracts that specify Company XYZ and Company LMN as reference entities. The cash settlement
sue and its 8.5%September 1, 2030 bond issue are specified as its only reference obligations. During the life of the option, Company XYZ spins oft Company LMN. Company XYZ remains the obligor for the 2022 bond issue and LMN becomes the obligor of a debt security issued to holder of the 2030 bond issue. T
Entities connected to both Company XYZ and Company LMN