glimcher realty trust - The Options Clearing Corporation

glimcher realty trust - The Options Clearing Corporation

#36049 DATE: JANUARY 15, 2015 SUBJECT: GLIMCHER REALTY TRUST - CONTRACT ADJUSTMENT OPTION SYMBOL: GRT NEW SYMBOL: WPG1 DATE: 1/16/15 Contract Adj...

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#36049

DATE:

JANUARY 15, 2015

SUBJECT:

GLIMCHER REALTY TRUST - CONTRACT ADJUSTMENT OPTION SYMBOL: GRT NEW SYMBOL: WPG1 DATE: 1/16/15

Contract Adjustment DATE:

January 16, 2015

OPTION SYMBOL:

GRT changes to WPG1

STRIKE DIVISOR:

1

CONTRACTS MULTIPLIER:

1

NEW MULTIPLIER:

100 (e.g., a premium of 1.50 yields $150; a strike of 15.00 yields $1,500.00)

NEW DELIVERABLE PER CONTRACT:

CUSIP:

1) 19 Washington Prime Group Inc. (WPG) Common Shares 2) Cash in lieu of 0.89 fractional WPG shares 3) $1,040.00 Cash (New) WPG: 92939N102

PRICING Until the cash in lieu amount is determined, the underlying price for WPG1 will be determined as follows: WPG1 = 0.1989 (WPG) + 10.40

DELAYED SETTLEMENT The WPG component of the WPG1 deliverable will settle through National Securities Clearing Corporation (NSCC). OCC will delay settlement of the cash portion of the WPG1 deliverable until the cash in lieu of fractional WPG shares is determined. Upon determination of the cash in lieu amount, OCC will require Put exercisers and Call assignees to deliver the appropriate cash amount. BACKGROUND On January 12, 2015, Shareholders of Glimcher Realty Trust (GRT) voted concerning the proposed merger with Washington Prime Group Inc. (WPG). The merger was approved and subsequently consummated on

January 15, 2015. As a result, each existing GRT Common Share will be converted into the right to receive 0.1989 WPG Common Shares plus $10.40 Cash. Cash will be paid in lieu of fractional WPG shares. On January 16, 2015, Washington Prime Group Inc. will change its name on a “doing business as” basis to WP GLIMCHER Inc., and will continue to trade under the symbol “WPG”. 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]