• Corporate Events; Brown - Forman Corporation (“BFB”)

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      • Clearing Member Firms
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      • CME Clearing
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      • 08-296
      • Notice Date
      • 27 October 2008
      • Effective Date
      • 28 October 2008
    • ACTION:                                                           Brown - Forman Corporation (“BFB”) has announced a 5 for 4 Cl. B stock-split. The ex-distribution date is Tuesday, October 28, 2008. The payable date is October 27, 2008. The record date is October 6, 2008.
       
                                                                              This action will be coordinated with the Options Clearing Corporation.
       
      CATEGORY:                                                     5 for 4 Stock Split
                                                                             
      EQUITY SYMBOL:                                            Brown - Forman Corporation (“BFB”)
       
      ONECHICAGO SYMBOL:                                             BFB1C will change to BFB2C. New BFB1C contracts with a contract unit of 100 shares will be introduced on Wednesday, October 29, 2008.            
                                                                                                     
      CME FUTURES SYMBOL:                                 BF2 for the BFB2C; BFC for the re-listed BFB1C
                                                                                                       
      NUMBER OF CONTRACTS:                               Unchanged
       
      EFFECTIVE DATE:                                           Effective the opening of business October 28, 2008 and thereafter.  
       
      MULTIPLIER:                                                   100; Unchanged
       
      DELIVERABLE PER CONTRACT:                      125 Brown - Forman Corporation (“BFB”) common shares for the BFB2C
                                                                             
      BFB1C will be re-listed for 100 share deliverable.
       
      APPLICABLE CONTRACT MONTHS:                 November, December 2008 and March, June 2009
       
      SETTLEMENT PRICES AND POSITIONS:         All outstanding BFB1C future contracts shall be adjusted to require the delivery or receipt of 125 shares of Brown - Forman Corporation (“BFB”) common shares Settlement prices are unchanged.
       
      The underlying price for the deliverable of BFB2C futures must be calculated, as follows:
       
      BFB2C (Deliverable) = 1.25 (BFC)
       
      For example, after the contract adjustment, if BFC closes at 10, the BFB2C deliverable price would be calculated as follows:
       
      BFB2C = 1.25 (10) = 12.50
                                                                                         
      NOTES:                                                            The forecasted effect of the upcoming corporate event on each clearing firms’ 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).
       
                                                                              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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