• Corporate Events: Lloyds Banking Group (LYG)

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      • Clearing Member Firms
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      • CME Clearing
      • #
      • 09-188
      • Notice Date
      • 05 May 2009
      • Effective Date
      • 05 May 2009
    • ACTION:                                                           Lloyds Banking Group PLC (“LYG”) declared a 2.5% Stock Dividend to LYG Shareholders. The Ex-distribution Date will be Wednesday, May 6, 2009. The Payable Date is May 12, 2009. The Record Date is May 8, 2009.
       
                                                                              This corporate event will be coordinated with the Options Clearing Corporation.
       
      CATEGORY:                                                     Stock Dividend
                             
      EQUITY SYMBOL:                                            Lloyds Banking Group PLC (“LYG”)
       
      ONECHICAGO SYMBOL:                                  LYG1C changes to LYG2C; a new LYG1C will be re-listed on Thursday, May 7, 2009.           
       
      CME FUTURES SYMBOL:                                 LY9 for the LYG2C; LYG for the re-listed SNBC1C
       
      EFFECTIVE DATE:                                           Wednesday, May 6, 2009
       
      MULTIPLIER:                                                   100 (e.g., 1.00 equals $100.00)
       
      NEW DELIVERABLE PER CONTRACT:             For the LYG2C:
       
      1)     102 Lloyds Banking Group PLC (“LYG”) Common Shares
      2)     Cash in lieu of 0.5 fractional shares
       
                                                                              For the re-listed LYG1C:
       
      100 Lloyds Banking Group PLC (“LYG”) Common Shares
       
      APPLICABLE CONTRACT MONTHS:                 May, June, September, and December 2009
       
      SETTLEMENT PRICES AND POSITIONS:         The underlying price for LYG2C will be determined as follows:
       
      LYG2C = 1.02 * LYG + cash in lieu
       
      Please note that the valuation would apply only to the LYG2C 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.

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