The document outlines the adjustment procedures for credit default basket options in the event of a complete redemption or a succession event. It explains how the options will be adjusted by removing affected reference entities from the basket and adjusting the cash settlement amount accordingly. It also details how succession events, where new entities assume reference obligations, will lead to adjustments in the credit default options.
documents/vol00010-efta01353520-pdf.pdf
{"document_type":"legal","document_subtype":"contract","key_organizations":["Company XYZ","Company LMN"],"reference_numbers":["SDNY_GM_00184116","EFTA01353520"]}