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Enron Mail |
George:
1. You didn't answer my question about "Calculation Period" and "IPA Modified Calculation Period". 2. Are you saying that EEL "elects" to increase/decrease the Basket Component Shares? Are you saying that the "IPA Number of Shares" is negative or the IPA is negative? Is the IPA negative when the Initial Price exceeds the Relevant Price? Sara Shackleton Enron North America Corp. 1400 Smith Street, EB 3801a Houston, Texas 77002 713-853-5620 (phone) 713-646-3490 (fax) sara.shackleton@enron.com Jorge A Garcia@ENRON 04/03/2001 08:37 AM To: Sara Shackleton/HOU/ECT@ECT cc: Subject: Re: RMT/EEL confirmation Good Morning Sara, "Share Spread" is not applicable and should be deleted. A negative IPA is subject to a specific swap traded. It would have to be a case where the Stock is already part of the Basket and they elect to unwind the swap and reduce the number of shares from the basket. For example, if 10,000 shares of XYZ Company were part of the original basket, they can trade off 5,000 shares of the swap effectively creating a negative IPA. The trade is mutually agreed upon. Looking forward to meeting with you! Jorge From: Sara Shackleton@ECT on 04/02/2001 06:32 PM To: Jorge A Garcia/NA/Enron@Enron cc: Subject: RMT/EEL confirmation Jorge: I may send you some emails throughout the day to help clarify some things for me. Where are your definitions of "Calculation Period" and "IPA Modified Calculation Period"? In your definition of "IPA Floating Rate Payment", you use the term "Share Spread" which is not defined. What do you mean? There is a dangling definition of "Share Spread" at the end of the IPA Compensation section, but it refers to spreads appearing in either Annex I or Annex II. In the "IPA Compensation" section, how is "a negative IPA elected"? Who is making an election? Let's discuss tomorrow. Sara Shackleton Enron North America Corp. 1400 Smith Street, EB 3801a Houston, Texas 77002 713-853-5620 (phone) 713-646-3490 (fax) sara.shackleton@enron.com
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