ACTION: The Phoenix Companies, Inc. (“PNX”) has announced a distribution of Virtus Investment Partners, Inc. (“VRTS”) Common Shares. The distribution ratio is .05 VRTS Common Shares per PNX Common Share. The record date is December 22, 2008; the mail date is December 31, 2008. The New York Stock Exchange (“NYSE”) has set January 2, 2009 as the ex-distribution of the distribution.
This corporate event will be coordinated with the Options Clearing Corporation.
EQUITY SYMBOL: The Phoenix Companies, Inc. (“PNX”)
ONECHICAGO SYMBOL: PNX1C changes to PNX2C; a new PNX1C will be re-listed on January 5th 2009
CME FUTURES SYMBOL: PN8 for the PNX2C; PNX for the re-listed PNX1C
EFFECTIVE DATE: January 2nd, 2009
MULTIPLIER: 100 (e.g., 1.00 equals $100.00)
NEW DELIVERABLE PER CONTRACT: For the PNX2C:
1) 100 The Phoenix Companies, Inc. (“PNX”) Common Shares
2) 5 Virtus Investment Partners, Inc. (“VRTS”) Common
APPLICABLE CONTRACT MONTHS: March, June 2009
SETTLEMENT PRICES AND POSITIONS: The underlying price for the PNX2C Futures contract deliverable, expressed in term of current market value, would be calculated as follows:
PNX2C = PNX + .05 (VRTS)
Please note that the valuation would apply only to the PNX2C deliverable in terms of current market value of the deliverable securities. The resulting price would not be equivalent to the daily settlement price of a futures contract month, whose determination would include cost of money carrying charges, adjustment for dividends, and other factors.
NOTES: The forecasted effect of the upcoming corporate event on each clearing firm’s positions can be viewed in infopac in the Corporate Event Initial Forecast Report (ONE712), the Corporate Event Final Forecast Report (ONE713), and the Corporate Event Forecast Audit Report (CPDBU710).
The details after the corporate event has been applied can be viewed in the Corporate Event Activity Report (ONE711).
If you have any questions regarding the information provided in the document, please call CME Clearing Risk Management hotline at (312) 648-3888.