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Enron Mail |
Elizabeth:
Please find below examples of the Long descriptions for US Gas & Crude Nymex Options Pls. let me know if you have any questions or need additional information, Thanks Carlos US Gas Fin Opt NYMEX EC5.45 Jun01 USD/MM-L A financial Option Transaction with Enron North America Corp., under which the Seller receives the Premium and the Buyer receives the Cash Settlement Amount. Each calendar month during the Term of the Transaction will be a Determination Period, provided that if the Term of the Transaction is less than one calendar month the Determination Period shall be the Term of the Transaction. The Notional Quantity per Determination Period shall be calculated from the volume submitted by Counterparty on the Website in accordance with the unit of measure. The Premium shall equal the product of (i) the price submitted by Counterparty via the Website, multiplied by (ii) the Notional Quantity per Determination Period, multiplied by (iii) the number of Determination Periods during the Term of the Transaction. The Payment Date for the Premium shall be 2 business days after the Trade Date of the Transaction. The Payment Date(s) for the Cash Settlement Amount shall be 5 business days after the Cash Settlement Amount is determinable. The Cash Settlement Amount shall be the greater of (i) zero, or (ii) the product of (a) the Notional Quantity per Determination Period, multiplied by (b) the Index minus the Strike Price. The Option style and type shall be a European Call ("EC"). Automatic Exercise is Applicable. The Strike Price for the Transaction shall be as set forth on the Website. The term of the Transaction shall be from the Effective Date of 01 Jun 2001 to the Termination Date of 30 Jun 2001. The Exercise Period(s) shall be the penultimate Trading Day of the NYMEX Henry Hub Natural Gas Futures Contract for the applicable Determination Period. The Index for each Exercise Period shall be the settlement price for the penultimate Trading Day of the NYMEX Henry Hub Natural Gas Futures Contract for the applicable Determination Period. The price is quoted in US Dollars per unit of volume, which will be the Contractual Currency. The unit of measure against which the volume is shown shall be 10,000 MMBtu's per month. US Gas Daily Opt GD/D HHub - IF HHub EC Jul01 USD/MM A financial Option Transaction with Enron North America Corp., under which the Seller receives the Premium and the Buyer receives the Cash Settlement Amount. Each calendar month during the Term of the Transaction will be a Determination Period, provided that if the Term of the Transaction is less than one calendar month the Determination Period shall be the Term of the Transaction. The Notional Quantity per Determination Period shall be calculated from the volume submitted by Counterparty on the website in accordance with the unit of measure. The Premium shall equal the product of (i) the price submitted by Counterparty via the website, multiplied by (ii) the number of calendar days during the Term of the Transaction, multiplied by (iii) the volume submitted by Counterparty on the website. The Payment Date for the Premium shall be 2 business days after the Trade Date of the Transaction. The Payment Date(s) for the Cash Settlement Amount shall be 5 business days after the Cash Settlement Amount is determinable. Where this Transaction is a Call Option, the Cash Settlement Amount shall be the greater of (i) zero, or (ii) the product of (a) the Notional Quantity per Determination Period, multiplied by (b) the Index minus the Strike Price. Where this Transaction is a Put Option, the Cash Settlement Amount shall be the greater of (i) zero, or (ii) the product of (a) the Notional Quantity per Determination Period, multiplied by (b) the Strike Price minus the Index. The term of the Transaction shall correspond to the date(s) set forth in the Product description on the Website. The Index for a Determination Period shall be the average of the Daily Midpoint price published on each calendar day during such Determination Period under the heading "Daily Price Survey" in the Louisiana -Onshore South - Henry Hub section of Gas Daily, or if a calendar day is not a Business Day then the price used shall be the Daily Midpoint price published on the next succeeding Business Day. The Strike Price for a Determination Period shall be the South Louisiana - Henry Hub Index price in the "Market Center Spot-Gas Prices" section located in the first issue of Inside Ferc's Gas Market Report published during such Determination Period. The price is quoted in US Dollars per unit of volume, which will be the Contractual Currency. The unit of measure against which the price is quoted shall be millions of British thermal units and the quantity shown shall be in millions of BTUs per day. The Option style and type shall be a European Call, ("EC"). Automatic Exercise is Applicable. US Crude Fin Opt NYMEX WTI EC26.5 May01 USD/bl/m A financial Option Transaction with Enron North America Corp., under which the Seller receives the Premium and the Buyer receives the Cash Settlement Amount. Each calendar month during the Term of the Transaction will be a Determination Period, provided that if the Term of the Transaction is less than one calendar month the Determination Period shall be the Term of the Transaction. The Notional Quantity per Determination Period shall be calculated from the volume submitted by Counterparty on the Website in accordance with the unit of measure. The Premium shall equal the product of (i) the price submitted by Counterparty via the Website, multiplied by (ii) the Notional Quantity per Determination Period, multiplied by (iii) the number of Determination Periods during the Term of the Transaction. The Payment Date for the Premium shall be 2 business days after the Trade Date of the Transaction. The Payment Date(s) for the Cash Settlement Amount shall be 5 business days after the Cash Settlement Amount is determinable. The Cash Settlement Amount shall be the greater of (i) zero, or (ii) the product of (a) the Notional Quantity per Determination Period, multiplied by (b) the Index minus the Strike Price.The Option style and type shall be a European Call ("EC"). Automatic Exercise is Applicable. The Strike Price for the Transaction shall be as set forth on the Website. The term of the Transaction shall be from the Effective Date of 01 May 2001 to the Termination Date of 31 May 2001. The Exercise Period(s) shall be the expiration day of the NYMEX Light, Sweet, Crude Oil Options Contract for the applicable Determination Period. The Index for each Exercise Period shall be the settlement price of the NYMEX Light, Sweet, Crude Oil Futures Contract for the applicable Determination Period on the expiration day of the NYMEX Light, Sweet, Crude Oil Options Contract for the applicable Determination Period.The price is quoted in US Dollars per unit of volume, which will be the Contractual Currency. The unit of measure against which the price is quoted shall be Barrels and the quantity shown shall be in Barrels per month. .
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