Callable Bull/Bear Certificate ("CBBC")
5.40
When must a CBBC issuer announce the settlement amount payable to the holders?
Paragraph 5.44A(b) of the Main LR requires a CBBC issuer to announce the settlement amount payable to the holders within 1 market day from the end of the next trading session after the MCE.
Examples:
The examples below are on the assumption that the next trading session after the MCE contains at least 1 hour of continuous trading for the underlying financial instrument.
(a)
If a MCE occurs during a morning trading session on Monday, the issuer must announce the settlement amount by Tuesday; and
(b)
If the MCE occurs during an afternoon trading session on Monday, the issuer must announce the settlement amount by Wednesday.