adjusted liberty global plc - The Options Clearing Corporation

adjusted liberty global plc - The Options Clearing Corporation

#39325 DATE: JULY 14, 2016 SUBJECT: ADJUSTED LIBERTY GLOBAL PLC - CASH IN LIEU SETTLEMENT ADJUSTED OPTION SYMBOLS: LBTA1/2LBTA1 Adjusted Liberty ...

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#39325

DATE:

JULY 14, 2016

SUBJECT:

ADJUSTED LIBERTY GLOBAL PLC - CASH IN LIEU SETTLEMENT ADJUSTED OPTION SYMBOLS: LBTA1/2LBTA1

Adjusted Liberty Global plc Class A options were adjusted on June 21, 2016 (See OCC Information Memo #39174). The new deliverable became 1) 100 Liberty Global plc Class A (LBTYA) Ordinary Shares, 2) 12 Liberty LiLAC Group Class A (LILA) Common Shares, and 3) Cash in lieu of approximately 0.476887 fractional LILA shares. Only settlement of the cash portion of LBTA1/2LBTA1 options exercise/assignment activity was subject to delayed settlement. OCC has been informed that a price of $32.055 per whole LILA share will be used to determine the cash in lieu amount at a rate of 0.47688657. Accordingly, the cash in lieu amount is: 0.47688657 x $32.055 = $15.29 per LBTA1/2LBTA1 Contract Now that the exact cash in lieu amount has been determined, OCC will require Put exercisers and Call assignees, during the period of June 21, 2016 through July 14, 2016, to deliver the appropriate cash amount. Terms of the LBTA1/2LBTA1 options are as follows: New Deliverable Per Contract:

1) 2) 3)

100 Liberty Global plc Class A (LBTYA) Ordinary Shares 12 Liberty LiLAC Group Class A (LILA) Common Shares $15.29 Cash

STRIKE PRICES:

Unchanged

CUSIPS:

LBTYA: G5480U104 LILA: G5480U138

MULTIPLIER:

100 (i.e., a premium of 1.50 yields $150)

SETTLEMENT The LBTYA and LILA components of LBTA1/2LBTA1 exercise/assignment activity from June 21, 2016 through July 13, 2016, have settled through National Security Clearing Corporation (NSCC). The $15.29 cash amount will be settled by OCC. PRICING The underlying price for LBTA1/2LBTA1 options will be determined as follows:

LBTA1 = LBTYA + 0.12 (LILA) + 0.1529 For example, if LBTYA closes at 31.34 and LILA closes at 34.14, the LBTA1 price would be calculated as follows: LBTA1 = 31.34 + 0.12 (34.14) + 0.1529 = 35.59 DISCLAIMER This Information Memo provides an unofficial summary of the terms of corporate events affecting listed options or futures prepared for the convenience of market participants. OCC accepts no responsibility for the accuracy or completeness of the summary, particularly for information which may be relevant to investment decisions. Option or futures investors should independently ascertain and evaluate all information concerning this corporate event(s). The determination to adjust options and the nature of any adjustment is made by a panel of The OCC Securities Committee pursuant to OCC By-Laws, Article VI, Sections 11 and 11A. The adjustment panel is comprised of representatives from OCC and each exchange which trades the affected option. The determination to adjust futures and the nature of any adjustment is made by OCC pursuant to OCC ByLaws, Article XII, Sections 3, 4, or 4A, as applicable. For both options and futures, each adjustment decision is made on a case by case basis. Adjustment decisions are based on information available at the time and are subject to change as additional information becomes available or if there are material changes to the terms of the corporate event(s) occasioning the adjustment. ALL CLEARING MEMBERS ARE REQUESTED TO IMMEDIATELY ADVISE ALL BRANCH OFFICES AND CORRESPONDENTS ON THE ABOVE. For questions regarding this memo, call Investor Services at 1-888-678-4667 or email [email protected] Clearing Members may contact Member Services at 1-800-544-6091 or, within Canada, at 1-800-424-7320, or email [email protected]