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Enron Mail |
OK for me. -----Original Message----- From: =09Sever, Stephanie =20 Sent:=09Monday, October 08, 2001 2:36 PM To:=09Lombardi, Kelly; Lambert, Karen; Jones, Tana Cc:=09Moran, Tom; Lees, Lisa Subject:=09FW: US Benzene Fin Options - Please review and reply Tana, Kelly, Karen: The product long description below will fall under the new product type: =09US Benzene Fin Opt Credit (Tom Moran/Wendi Lebrocq) have approved copying the profiles for the= new product type from the following: =09US Unl Gasoline Fin Opt Please respond no later than 10 AM, Wednesday, October 10. Thank you. -----Original Message----- From: =09Moran, Tom =20 Sent:=09Monday, October 08, 2001 1:54 PM To:=09Sever, Stephanie Cc:=09Lebrocq, Wendi Subject:=09RE: US Benzene Fin Options - Please review and reply Stephanie, Let's copy the existing profiles for US Unl Gasoline Fin Opt Call and use i= t for this new product. Let me know if there are any questions. Regards, tm -----Original Message----- From: =09Sever, Stephanie =20 Sent:=09Monday, October 08, 2001 1:47 PM To:=09Moran, Tom; Lebrocq, Wendi Subject:=09FW: US Benzene Fin Options - Please review and reply What do you think about coping profiles from US Benzene Fin Swap? Thanks, Stephanie -----Original Message----- From: =09Lozano, Melba =20 Sent:=09Friday, October 05, 2001 3:28 PM To:=09Hagelmann, Bjorn; Adams, Matthew Cc:=09Lees, Lisa; Sever, Stephanie; Sweitzer, Tara; Blumenthal, Jeff; Musch= , Susan; Meredith, Kevin Subject:=09FW: US Benzene Fin Options - Please review and reply << File: ENA Financial GTC (credit).doc << << File: ENA Financial GTC.= doc <<=20 Please provide a sigma factor for the following Product Type: US Benzene Option : Puts calls straddles The products are Asian Financial Options quoted in lots: 1lot =3D 1,000 ba= rrels =3D 42,000 gallons. =20 Thanks, Melba CALL US Benz Fin Opt CMAI Spot AsC4.5 Oct01 USD/GL-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 De= termination Period, provided that if the Term of the Transaction is less th= an one calendar month the Determination Period shall be the Term of the Tra= nsaction. The Notional Quantity per Determination Period shall be calculate= d from the volume submitted by Counterparty on the website in accordance wi= th the unit of measure. The Premium shall equal the product of (i) the pric= e submitted by Counterparty via the Website, multiplied by (ii) the Notiona= l Quantity per Determination Period, multiplied by (iii) the number of Dete= rmination Periods during the Term of the Transaction. The Payment Date for = the Premium shall be 2 business days after the Trade Date of the Transactio= n. The Payment Date(s) for the Cash Settlement Amount shall be 5 business d= ays after the Cash Settlement Amount is determinable. Where this Transactio= n is a Call Option, the Cash Settlement Amount shall be the product of (a) = the Notional Quantity per Determination Period, multiplied by (b) the great= er of (i) zero, or (ii) the Index minus the Strike Price. Where this Transa= ction is a Put Option, the Cash Settlement Amount shall be the product of (= a) the Notional Quantity per Determination Period, multiplied by (b) the gr= eater of (i) zero, or (ii) the Strike Price minus the Index. Where this Tra= nsaction is a Straddle Option, the Cash Settlement Amount shall be the prod= uct of (a) the Notional Quantity per Determination Period, multiplied by (b= ) the absolute difference between the Strike Price and the Index. The Term of the Transaction shall be from the Effective Date of 01 Oct 2001= to the Termination Date of 31 Oct 2001. The Exercise Period(s) shall be the last Trading Day of the Determination P= eriod. The Index for a month shall be the average of the means of the high = and low price in Cents/Gallon of Benzene published under the headings "Pric= es for Period Ending Mon, 8 Oct 2001 12:40:28 -0700 (PDT): United States: Benzene)" under the caption "SP= OT: Cents/Lb." in each issue of Chemical Market Associates, Inc.'s Aromatic= s Market Report (Weekly) that reports prices effective for such month. The price is quoted in US Dollars per unit of volume, which will be the Con= tractual Currency. The unit of measure against which the volume is shown shall be 42,000 gallo= ns per month. The Option style and type shall be an Asian Call, ("AsC"). Automatic Exercise is Applicable. The strike price for the transaction is 4.5 United States Dollar/Gallon Lot= s. PUT US Benz Fin Opt CMAI Spot AsP4.5 Oct01 USD/GL-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 De= termination Period, provided that if the Term of the Transaction is less th= an one calendar month the Determination Period shall be the Term of the Tra= nsaction. The Notional Quantity per Determination Period shall be calculate= d from the volume submitted by Counterparty on the website in accordance wi= th the unit of measure. The Premium shall equal the product of (i) the pric= e submitted by Counterparty via the Website, multiplied by (ii) the Notiona= l Quantity per Determination Period, multiplied by (iii) the number of Dete= rmination Periods during the Term of the Transaction. The Payment Date for = the Premium shall be 2 business days after the Trade Date of the Transactio= n. The Payment Date(s) for the Cash Settlement Amount shall be 5 business d= ays after the Cash Settlement Amount is determinable. Where this Transactio= n is a Call Option, the Cash Settlement Amount shall be the product of (a) = the Notional Quantity per Determination Period, multiplied by (b) the great= er of (i) zero, or (ii) the Index minus the Strike Price. Where this Transa= ction is a Put Option, the Cash Settlement Amount shall be the product of (= a) the Notional Quantity per Determination Period, multiplied by (b) the gr= eater of (i) zero, or (ii) the Strike Price minus the Index. Where this Tra= nsaction is a Straddle Option, the Cash Settlement Amount shall be the prod= uct of (a) the Notional Quantity per Determination Period, multiplied by (b= ) the absolute difference between the Strike Price and the Index. The Term of the Transaction shall be from the Effective Date of 01 Oct 2001= to the Termination Date of 31 Oct 2001. The Exercise Period(s) shall be the last Trading Day of the Determination P= eriod. The Index for a month shall be the mean of the average of the high = and low price in Cents/Gallon of Benzene published under the headings "Pric= es for Period Ending Mon, 8 Oct 2001 12:40:28 -0700 (PDT): United States: Benzene)" under the caption "SP= OT: Cents/Lb." in each issue of Chemical Market Associates, Inc.'s Aromatic= s Market Report (Weekly) that reports prices effective for such month. The price is quoted in US Dollars per unit of volume, which will be the Con= tractual Currency. The unit of measure against which the volume is shown shall be 42,000 gallo= ns per month. The Option style and type shall be an Asian Put, ("AsP"). Automatic Exercise is Applicable. The strike price for the transaction is 4.5 United States Dollar/Gallon Lot= s.
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