DSLW DLC SG5xShort SIA

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ANNOUNCEMENT ON AIR BAG TRIGGER SUSPENSION

Unless otherwise defined, the capital terms in this Announcement shall bear the same meaning in the relevant Supplemental Listing Document dated 2 July 2019 in relation to the DLCs.

SG Issuer (Issuer) would like to notify the holders of the European Style Cash Settled Short Certificates relating to the ordinary shares of Singapore Airlines Limited (Underlying Stock) with a Daily Leverage of   -5x with counter code DSLW (DLCs) that the Underlying Unit price increased by more than 15% at 9:00:56 a.m. (Trigger Time) on 6 May 2020, and the Air Bag Mechanism was triggered at the Trigger Time in accordance with the terms and conditions of the DLCs. Trading and market making activities for the DLCs have been suspended and the value of the Underlying Unit price will be adjusted intra-day to the New Observed Price which shall be the maximum value of the Underlying Unit, during 15 minutes after the Trigger Time.

The Issuer will release a further announcement to inform the holders when trading and market making activities for the DLCs resume.

Please refer to the website at dlc.socgen.com for more information.

Issued by

SG Issuer

6 May 2020

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Announcement on Air Bag Trigger Suspension

Unless otherwise defined, the capital terms in this Announcement shall bear the same meaning in the relevant Supplemental Listing Document dated 2 July 2019 in relation to the Affected DLCs.

SG Issuer (the “Issuer”) refers to its announcement dated 6 May 2020 regarding the trigger of the Air Bag Mechanism and corresponding suspension of the European Style Cash Settled Short Certificates relating to the ordinary shares of Singapore Airlines Limited with daily leverage of -5x (the “Affected DLCs”) issued by the Issuer and listed on the Singapore Exchange Securities Trading Limited (the “SGX-ST”).

The Issuer would like to notify holders of the Affected DLCs that as there has been a sharp intraday rise in the price of the Underlying Stock of more than 20% compared to its previous adjusted closing price at S$3.71025415, with the New Observed Price (i.e. the Underlying Stock Price (ISIR(k))) at S$4.59, the Affected DLCs have lost 100% of value according to the Supplemental Listing Document. In accordance with the Supplemental Listing Document, the Affected DLCs will not recover in value even if the Underlying Stock resumes trading and trades at a lower price. The trading and market making activities for the Affected DLCs will be permanently suspended.

Issued by

SG Issuer

6 May 2020

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SG Issuer (the “Issuer”) refers to the announcements dated 6 May 2020 (the “Announcements”) relating to the permanent suspension of the trading and market making activities for the European Style Cash Settled Short Certificates relating to the ordinary shares of Singapore Airlines Limited with a Daily Leverage of -5x (the Stock Code: DSLW) (the “Certificates”) issued by the Issuer and listed on the Singapore Exchange Securities Trading Limited (the “SGX-ST”). As stated in the Announcements, the Certificates have lost 100% of their value and the trading and market making activities for the Certificates will be permanently suspended.

The Issuer wishes to advise that it intends to exercise its right to terminate the Certificates under the terms and conditions of the Certificates and an application will be made to the SGX-ST for such early termination and the delisting of the Certificates from the Official List of the SGX-ST.

The Issuer will release a further announcement to inform the holders of the Certificates of the effective date of such early termination and delisting.

Issued by

SG Issuer

6 May 2020

This DLC is at a low value. As the value of a DLC gets smaller, the minimum bid/ask spared will become larger in percentage, which increases the trading costs for investors. In the case where the theoretical bid is below SGD 0.001, the issuer will not be able to provide both bid and offer. Please refer to here for more detail.
Last Price
0.000
-0.81 (-100.00%)
Bid
N/A
Ask
N/A
  • Open
    -
  • High
    -
  • Low
    -
  • Last Intrinsic Close
    0.000
  • Traded Value
    -
  • Volume
    -
  • Sensitivity
    0.000
  • Effective Leverage
    -192.50
Underlying Price
Previous Day Close
3.870
Air Bag Trigger Level
4.450
-0.52%
+12%
+15%
Air Bag Trigger Level
4.450
Last Update: 08/07/2020 17:28

Static Data - Daily Leverage Certificate

  • Code
    DSLW
  • Type
    Daily Short
  • ISIN
    LU1919228830
  • Guarantor
    SG
  • Underlying Asset
    SINGAPORE AIRLINES (SIAL.SI)
  • Leverage Factor
    -5x
  • Issuer
    SG Issuer
  • Issued Qty
    -
  • Listing Date
    03/07/2019
  • DLC Trading Currency
    SGD
  • Last Trading Date
    23/06/2022
  • Underlying Currency
    SGD
  • Expiry Date
    30/06/2022
  • Air Bag Trigger Level
    15%

Trading Data

  • Sensitivity
    0.000
  • Outstanding Qty / (%)
    -
  • % Spread
    0.00%
  • Outstanding Change
    -

Costs and Fees

  • Management Fee
    0.4% per annum
  • Gap Premium
    4.6% per annum
  • Daily Cost / (%)
    0.000000 (0.00%)

Legal Documents

DLC SG5xShort SIA

Last Intrinsic Close
Last Update: 08/07/2020 17:28

SIAL.SI

Last Close
Last Update: 08/07/2020 17:28

Historical Performance Data

  Day Before 1 week 1 month 6 months
Product - - - -
Underlying -0.52% +1.05% -10.26% -57.17%
Last Update: 08/07/2020 17:28