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How is Underlying Value defined in a legal contract?

• Underlying Value means the rate of the Underlying on a specified day as determined by a calculation agent. This value can be positive, negative, or zero. Seen in 7 SEC filings
• Underlying Value means the product of the exchange reported closing price for the day a valuation is performed, and the applicable multiplier for such index futures, as quoted on the relevant exchange. Seen in 6 SEC filings
• Underlying Value means with respect to a specified bond, a calculated value based on a given formula. Seen in 5 SEC filings
• Underlying Value means the value of the Underlying determined by the calculation agent during a specified period or date. Seen in 2 SEC filings
• Underlying Value means a specific value that is equal to a certain difference as specified by a calculation. Seen in 2 SEC filings
• Underlying Value means an amount determined by the calculation agent on each trading day according to a certain formula. Seen in 2 SEC filings
• Underlying Value means the price of the Underlying as calculated and published once a day by the index calculator on every business day. Seen in 2 SEC filings
• Underlying Value means the index level of the index as of the valuation time. Seen in 2 SEC filings

Note: pulled this data out of the SEC EDGAR Database of 500,000 records from the past 22 years of filings. We regularly update this page as new filings and definitions come in.

yourself to verify these results. We are always keen to point people to source documents.

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Which definition should you use?

🤔 has combined and improved the above descriptions to create market-standard 'Genie definitions' below, with guidance on which documents and which industry to use for each.

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Genie Definition 1

• Underlying Value means the calculated rate or value of an asset determined by a specified agent.

Relevant Contract Types

• Derivative Contracts
• Swap Contracts
• Futures Contracts
• Options Contracts

Relevant Circumstances

• Valuation of financial instruments
• Determining the price for swap agreements
• Pricing and trading of futures or options

Relevant Sectors

• Finance Sector
• Commodities Trading
• Investment Banking

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Genie Definition 2

• Underlying Value means the product of the closing trading price and a relevant multiplier on a specified day.

Relevant Contract Types

• Equity Derivatives Contracts
• Stock Option Contracts

Relevant Circumstances

• Trading of financial derivatives
• Calculation of payoff in stock option contracts

Relevant Sectors

• Stock Market
• Financial Services

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