glimcher realty trust - The Options Clearing Corporation

glimcher realty trust - The Options Clearing Corporation

#36167 DATE: FEBRUARY 4, 2015 SUBJECT: GLIMCHER REALTY TRUST - CASH IN LIEU SETTLEMENT ADJUSTED OPTION SYMBOL: WPG1 Glimcher Realty Trust options...

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#36167

DATE:

FEBRUARY 4, 2015

SUBJECT:

GLIMCHER REALTY TRUST - CASH IN LIEU SETTLEMENT ADJUSTED OPTION SYMBOL: WPG1

Glimcher Realty Trust options were adjusted on January 16, 2015 (See OCC Information Memo #36049). The new deliverable became 1) 19 Washington Prime Group Inc. (WPG) Common Shares, 2) Cash in lieu of 0.89 fractional WPG shares, and 3) $1,040.00 Cash. Only settlement of the cash portion of WPG1 options exercise/assignment activity was subject to delayed settlement. OCC has been informed that a price of $17.666066 per whole WPG share will be used to determine the cash in lieu amount. Accordingly, the cash in lieu amount is: 0.89 x $17.666066 = $15.72 per WPG1 Contract Now that the exact cash in lieu amount has been determined, OCC will require Put exercisers and Call assignees, during the period of January 16, 2015 through February 4, 2015, to deliver the appropriate cash amount. Terms of the WPG1 options are as follows: New Deliverable Per Contract:

1) 2)

19 Washington Prime Group Inc. (WPG) Common Shares $1,055.72 ($1,040.00 + $15.72) Cash

STRIKE PRICES:

Unchanged

CUSIP:

WPG: 92939N102

MULTIPLIER:

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

SETTLEMENT The WPG component of WPG1 exercise/assignment activity from January 16, 2015 through February 3, 2015, has settled through National Security Clearing Corporation (NSCC). The $1,055.72 cash amount will be settled by OCC. PRICING The underlying price for WPG1 options will be determined as follows: WPG1 = 0.19 (WPG) + 10.5572 For example, if WPG closes at 17.39, the WPG1 price would be calculated as follows:

WPG1 = 0.19 (17.39) + 10.5572 = 13.86 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]