Nordea's Upcoming Adjustments to Underlying Assets
Significant Changes in Trading Operations
As Millicom International Cellular prepares for its delisting from Nasdaq Stockholm, Nordea is set to modify the underlying assets related to specific certificates. This transition aims to align with Millicom's new listing on Nasdaq Global Select in the United States, necessitating changes to trading times and other related conditions.
Modified Trading Times and Conditions
With the company's new underlying asset being listed in the U.S., trading hours will officially shift from the current schedule to a new timeframe, enhancing access for market participants. The revised trading hours will be from 15:30 to 21:55, covering key trading periods across different time zones.
Details of the Underlying Asset Adjustments
Alongside the adjustment in trading times, Nordea has announced several key amendments to the final conditions of the impacted certificates. Here are some notable changes:
- Valuation Time will transition from 17:30 CET to 22:00 CET.
- The Underlying Asset ISIN will change from SE0001174970 to LU0038705702.
- Currency conversion will also be affected, moving from SEK to USD, which is expected to streamline operations.
Changes in Pricing and Reference Sources
The reference price and currency will see substantial changes, shifting the pricing structure to better reflect the new market conditions:
- Reference Source will update from NASDAQ to NASDAQ Global Select, aligning with the new asset listing.
- The base rate will switch from STIBOR to SOFR, reflecting a more relevant benchmark for trading in the U.S.
Currency Conversion and Impact
As part of the adjustments, currency conversion processes will utilize rates from 18:00 on the designated date, ensuring that all transactions reflect the latest market valuations. These changes are expected to enable smoother operations and accuracy in financial reporting.
Supporting Documentation and Further Information
The modifications are backed by Nordea Bank Abp’s foundational prospectus, which grants the institution authority to amend final conditions during extraordinary events, such as corporate delistings.
Investors and market participants are encouraged to stay informed about these changes, as they will influence operational dynamics significantly. For further details, interested parties can refer to the supporting documentation provided by Nordea.
Frequently Asked Questions
What changes will occur in trading times?
The trading hours will change from 09:00-17:25 to 15:30-21:55.
How will the underlying asset change?
The Underlying Asset ISIN will change from SE0001174970 to LU0038705702 following Millicom's delisting.
What currency will be used for pricing?
The reference currency will shift from SEK to USD as part of the adjustment.
Why is this change being made?
This alteration is due to Millicom International Cellular's strategic listing in the U.S. and is intended to streamline operations.
Where can I find more information about these changes?
Further details are available in the foundational prospectuses and supporting documentation provided by Nordea Bank Abp.