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Enron Mail |
Tana/Karen/Kelly:
The product long description below will fall under the new product type US Gas FIN OPT (Floating Strike). Credit (Tom Moran) has approved copying the profiles for the new product type from the following: US Gas Fin Opt Please respond by 5p.m. on Tuesday, February 27. Thank you. Stephanie ---------------------- Forwarded by Stephanie Sever/HOU/ECT on 02/27/2001 01:20 PM --------------------------- From: Melba Lozano 02/08/2001 10:08 AM To: Mark Taylor/HOU/ECT@ECT, Jeff Blumenthal/HOU/ECT@ECT, Frank Hayden/Corp/Enron@Enron, Stephen H Douglas/HOU/ECT@ECT, Tom Moran/HOU/ECT@ECT cc: Robert B Cass/HOU/ECT@ECT, Lisa Lees/HOU/ECT@ECT, Stephanie Sever/HOU/ECT@ECT, Tana Jones/HOU/ECT@ECT, Karen Lambert/HOU/ECT@ECT, Kelly Lombardi/NA/Enron@Enron, Chris Walker/HOU/ECT@ECT, Kevin Meredith/Corp/Enron@ENRON Subject: Approval needed for US Gas Fin Opt (Floating Strike) Your review and approval of the following product type in the EOL Datamanager is needed (for directions on approval , please see steps for approval at the bottom of this e-mail). If you have any questions please call me at ext. 58986. Trader: Larry May US Gas Fin Opt GD/D HHub - IF HHub EP Feb01 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 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 be from the Effective Date of 01 Feb 2001 to the Termination Date of 28 Feb 2001. 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 volume is shown shall be 10,000 MMBtu's per day. The Option style and type shall be a European Put ("EP"). Automatic Exercise is Applicable. US Gas Fin Opt GD/D HHub - IF HHub EC Feb01 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 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 be from the Effective Date of 01 Feb 2001 to the Termination Date of 28 Feb 2001. 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 volume is shown shall be 10,000 MMBtu's per day. The Option style and type shall be a European Call ("EC"). Automatic Exercise is Applicable. ============================================================================== ===== STEPS FOR APPROVAL: click the START button select PROGRAMS select TEST APPLICATIONS select ENRONONLINE CLUSTER(PROD) PROCEED WITH USUAL LOGIN/PASSWORD click the Enron Online Production Cluster "START" button select EnronOnLine (this is the EOL Datamanager) PROCEED WITH EOL LOGIN/PASSWORD click on the "+" for EnronOnLine click on the "+" for Product Types click on the "+" for "Awaiting Approval" (OR "Partially Approved") select the product requiring review as stated in e-mail above Right "mouse" click on "properties" to view product set-up TO APPROVE: Right mouse click on "Approved"
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