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Enron Mail |
I will look at it.
Cordially, Mary Cook Enron North America Corp. 1400 Smith, 38th Floor, Legal Houston, Texas 77002-7361 (713) 345-7732 (phone) (713) 646-3490 (fax) mary.cook@enron.com Diane Anderson@ENRON 05/03/2001 12:02 PM To: Sara Shackleton/HOU/ECT@ECT, Mary Cook/HOU/ECT@ECT cc: Subject: P&P confirm help Sara/Mary - I'm not sure which of you to direct this question to, so I'll ask you both and either can run with it....... I am attaching a confirmation for the paper product OCC#11. The desk came back to me with modifications to incorporate that change this into a type of confirmation I have never done before. So I need some help: - This will be an American Call Swaption. The Buyer has the option to settle physically or financially into a call. - For financial settlement: Exercise periods: May 1 - May31 to exercise the June period June 1 - June 30 to exercise the July period July 1 - July 31 to exercise to August period (close of business 4:30 EST) - For physical settlment: Exercise periods are the same as for financial settlement - If they exercise physically, the Seller must be allowed at least 30 days to deliver 2000 short tons per month for each Determination Period at the defined Location. - The language they gave me for the Floating Price is: The Floating Price for each Determination Period shall be based off the arithmetic average fo the bid/offer price based off www.clickpaper.com at the time of exercising the call option (US Physical OCC#11 FAS Port Elizabeth Harbor, Spot month) I'm attaching a copy of the original confirmation I generated , using just the info that was on the ticket. (clearly the ticket was lacking a lot of important things, and incorrect on others)....you can use it to incorporate the necessary changes if you'd like, or start from scratch. Let me know what other info you might need and I'll try to get it from either the desk or from the physcial confirms group. Thanks a lot, Diane
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