• Corporate Event:First Horizon National Corporation - Effective Wednesday, March 11, 2009

      • To
      • Clearing Member Firms
      • From
      • CME Clearing
      • #
      • 09-91
      • Notice Date
      • 11 March 2009
      • Effective Date
      • 11 March 2009
    • ACTION:                                                           First Horizon National Corporation (“FHN”) declared a 2.6673% Stock Dividend to FHN Shareholders. The Ex-distribution Date will be Wednesday, March 11, 2009. The Payable Date is April 1, 2009. The Record Date is March 13, 2009.
       
                                                                              This corporate event will be coordinated with the Options Clearing Corporation.
       
      CATEGORY:                                                     Stock Dividend
                             
      EQUITY SYMBOL:                                            First Horizon National Corporation (“FHN”)
       
      ONECHICAGO SYMBOL:                                  FHN1C changes to FHN2C; a new FHN1C will be re-listed on Thursday, March 12, 2009.          
       
      CME FUTURES SYMBOL:                                 FH9 for the FHN2C; M8 for the re-listed FHN1C
       
      EFFECTIVE DATE:                                           Wednesday, March 11, 2009
       
      MULTIPLIER:                                                   100 (e.g., 1.00 equals $100.00)
       
      NEW DELIVERABLE PER CONTRACT:             For the FHN2C:
       
      1) 102 First Horizon National Corporation (“FHN”) Common Shares
      2) Cash in lieu of .6673 fractional FHN Common Shares*
       
                                                                              For the re-listed FHN1C:
       
      100 First Horizon National Corporation (“FHN”) Common Shares
       
      APPLICABLE CONTRACT MONTHS:                 March, April, June, and September 2009
       
      SETTLEMENT PRICES AND POSITIONS:         The underlying price for FHN2C will be determined as follows:
       
      FHN2C = 1.02 * FHN + cash in lieu
       
      Please note that the valuation would apply only to the FHN2C 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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