Double No Touch
About 5 min
Double No Touch
Visit the Mathema Option Pricing System for foreign exchange options and structured product valuation!
I. Transaction Details
| Party A | XXXXX |
| Party B | XXXXX (“XXXX”) |
| Notional Amount | 【XXX,XXX,XXX.XX】 RMB |
| Trade Date | 【XXXX】Y【XX】M【XX】D |
| Start Date | 【XXXX】Y【XX】M【XX】D |
| Final Observation Date | 【XXXX】Y【XX】M【XX】D |
| Observation Period | For each transaction, the period from (and including) the Start Date to (and including) the Final Observation Date. |
| Observation Dates | For each transaction, each BFIX pricing day listed in the calendar from 【XXXX】Y【XX】M【XX】D (inclusive) to 【XXXX】Y【XX】M【XX】D (inclusive). “BFIX Pricing Day” refers to each day in the calendar displayed on Bloomberg page “CDR” after entering the calendar code “BFIX” and clicking “GO”, excluding dates marked as “Saturday”, “Sunday”, or “No Settlement”. |
| Maturity Date | 【XXXX】Y【XX】M【XX】D, subject to adjustment under the "Following" business day convention. |
| Business Day Convention | “Following” |
| Business Days for Payments | Beijing, New York |
| Governing Law | Laws of the People's Republic of China |
| Governing Document | 《Definition Document for Financial Derivatives Transactions in the Chinese Interbank Market（2009 edition）》 |
| Option Amount | 【】 |
| Option Amount Payer | Party B |
| Option Amount Payment Date | 【XXXX】Y【XX】M【XX】D |
| Option Amount | 【】 RMB |
| Exercise Method | Automatic exercise, meaning no notice is required from either party for exercise. |
| Option Payout Amount | 【】 |
| Option Payout Payer | Party A |
| Option Payout Payment Date | Maturity Date |
| Option Payout Amount | If, on any Observation Date, the EUR/USD fixing price is equal to or above Barrier Rate 2, or equal to or below Barrier Rate 1, - Currency Amount 1 Otherwise, - Currency Amount 2. |
| Currency Amount 1 | 【】 RMB |
| Currency Amount 2 | 0 RMB |
| Barrier Rate 1 | X.XXXXX |
| Barrier Rate 2 | X.XXXXX |
| EUR/USD Initial Fixing Price | EUR/USD fixing price on the Trade Date, X.XXXXX |
| Business Days for EUR/USD Fixing | BFIX Pricing Day |
| EUR/USD Fixing Price | The mid-price of EUR/USD displayed on Bloomberg "BFIX" page at 3:00 PM Tokyo time on each BFIX Pricing Day (expressed as the amount of USD per 1 EUR), accurate to 5 decimal places. If the EUR/USD spot rate is not displayed on Bloomberg "BFIX", the calculation agent will determine the applicable rate in a commercially reasonable manner and in good faith. |
II. Date Table
| Fixing | Observation Date | Fixing | Observation Date | Fixing | Observation Date | Fixing | Observation Date |
|---|---|---|---|---|---|---|---|
| 1 | 15-Oct-21 | 36 | 03-Dec-21 | 71 | 21-Jan-22 | 106 | 11-Mar-22 |
| 2 | 18-Oct-21 | 37 | 06-Dec-21 | 72 | 24-Jan-22 | 107 | 14-Mar-22 |
| 3 | 19-Oct-21 | 38 | 07-Dec-21 | 73 | 25-Jan-22 | 108 | 15-Mar-22 |
| 4 | 20-Oct-21 | 39 | 08-Dec-21 | 74 | 26-Jan-22 | 109 | 16-Mar-22 |
| 5 | 21-Oct-21 | 40 | 09-Dec-21 | 75 | 27-Jan-22 | 110 | 17-Mar-22 |
| 6 | 22-Oct-21 | 41 | 10-Dec-21 | 76 | 28-Jan-22 | 111 | 18-Mar-22 |
| 7 | 25-Oct-21 | 42 | 13-Dec-21 | 77 | 31-Jan-22 | 112 | 21-Mar-22 |
| 8 | 26-Oct-21 | 43 | 14-Dec-21 | 78 | 01-Feb-22 | 113 | 22-Mar-22 |
| 9 | 27-Oct-21 | 44 | 15-Dec-21 | 79 | 02-Feb-22 | 114 | 23-Mar-22 |
| 10 | 28-Oct-21 | 45 | 16-Dec-21 | 80 | 03-Feb-22 | 115 | 24-Mar-22 |
| 11 | 29-Oct-21 | 46 | 17-Dec-21 | 81 | 04-Feb-22 | 116 | 25-Mar-22 |
| 12 | 01-Nov-21 | 47 | 20-Dec-21 | 82 | 07-Feb-22 | 117 | 28-Mar-22 |
| 13 | 02-Nov-21 | 48 | 21-Dec-21 | 83 | 08-Feb-22 | 118 | 29-Mar-22 |
| 14 | 03-Nov-21 | 49 | 22-Dec-21 | 84 | 09-Feb-22 | 119 | 30-Mar-22 |
| 15 | 04-Nov-21 | 50 | 23-Dec-21 | 85 | 10-Feb-22 | 120 | 31-Mar-22 |
| 16 | 05-Nov-21 | 51 | 24-Dec-21 | 86 | 11-Feb-22 | 121 | 01-Apr-22 |
| 17 | 08-Nov-21 | 52 | 27-Dec-21 | 87 | 14-Feb-22 | 122 | 04-Apr-22 |
| 18 | 09-Nov-21 | 53 | 28-Dec-21 | 88 | 15-Feb-22 | 123 | 05-Apr-22 |
| 19 | 10-Nov-21 | 54 | 29-Dec-21 | 89 | 16-Feb-22 | 124 | 06-Apr-22 |
| 20 | 11-Nov-21 | 55 | 30-Dec-21 | 90 | 17-Feb-22 | 125 | 07-Apr-22 |
| 21 | 12-Nov-21 | 56 | 31-Dec-21 | 91 | 18-Feb-22 | 126 | 08-Apr-22 |
| 22 | 15-Nov-21 | 57 | 03-Jan-22 | 92 | 21-Feb-22 | 127 | 11-Apr-22 |
| 23 | 16-Nov-21 | 58 | 04-Jan-22 | 93 | 22-Feb-22 | 128 | 12-Apr-22 |
| 24 | 17-Nov-21 | 59 | 05-Jan-22 | 94 | 23-Feb-22 | 129 | 13-Apr-22 |
| 25 | 18-Nov-21 | 60 | 06-Jan-22 | 95 | 24-Feb-22 | 130 | 14-Apr-22 |
| 26 | 19-Nov-21 | 61 | 07-Jan-22 | 96 | 25-Feb-22 | 131 | 15-Apr-22 |
| 27 | 22-Nov-21 | 62 | 10-Jan-22 | 97 | 28-Feb-22 | 132 | 19-Apr-22 |
| 28 | 23-Nov-21 | 63 | 11-Jan-22 | 98 | 01-Mar-22 | 133 | 20-Apr-22 |
| 29 | 24-Nov-21 | 64 | 12-Jan-22 | 99 | 02-Mar-22 | 134 | 21-Apr-22 |
| 30 | 25-Nov-21 | 65 | 13-Jan-22 | 100 | 03-Mar-22 | 135 | 22-Apr-22 |
| 31 | 26-Nov-21 | 66 | 14-Jan-22 | 101 | 04-Mar-22 | 136 | 25-Apr-22 |
| 32 | 29-Nov-21 | 67 | 17-Jan-22 | 102 | 07-Mar-22 | 137 | 26-Apr-22 |
| 33 | 30-Nov-21 | 68 | 18-Jan-22 | 103 | 08-Mar-22 | 138 | 27-Apr-22 |
| 34 | 01-Dec-21 | 69 | 19-Jan-22 | 104 | 09-Mar-22 | 139 | 28-Apr-22 |
| 35 | 02-Dec-21 | 70 | 20-Jan-22 | 105 | 10-Mar-22 | 140 | 29-Apr-22 |
| Fixing | Observation Date | Fixing | Observation Date | Fixing | Observation Date | Fixing | Observation Date |
|---|---|---|---|---|---|---|---|
| 141 | 02-May-22 | 176 | 20-Jun-22 | 211 | 08-Aug-22 | 246 | 26-Sep-22 |
| 142 | 03-May-22 | 177 | 21-Jun-22 | 212 | 09-Aug-22 | 247 | 27-Sep-22 |
| 143 | 04-May-22 | 178 | 22-Jun-22 | 213 | 10-Aug-22 | 248 | 28-Sep-22 |
| 144 | 05-May-22 | 179 | 23-Jun-22 | 214 | 11-Aug-22 | 249 | 29-Sep-22 |
| 145 | 06-May-22 | 180 | 24-Jun-22 | 215 | 12-Aug-22 | 250 | 30-Sep-22 |
| 146 | 09-May-22 | 181 | 27-Jun-22 | 216 | 15-Aug-22 | 251 | 03-Oct-22 |
| 147 | 10-May-22 | 182 | 28-Jun-22 | 217 | 16-Aug-22 | 252 | 04-Oct-22 |
| 148 | 11-May-22 | 183 | 29-Jun-22 | 218 | 17-Aug-22 | 253 | 05-Oct-22 |
| 149 | 12-May-22 | 184 | 30-Jun-22 | 219 | 18-Aug-22 | 254 | 06-Oct-22 |
| 150 | 13-May-22 | 185 | 01-Jul-22 | 220 | 19-Aug-22 | 255 | 07-Oct-22 |
| 151 | 16-May-22 | 186 | 04-Jul-22 | 221 | 22-Aug-22 | 256 | 10-Oct-22 |
| 152 | 17-May-22 | 187 | 05-Jul-22 | 222 | 23-Aug-22 | 257 | 11-Oct-22 |
| 153 | 18-May-22 | 188 | 06-Jul-22 | 223 | 24-Aug-22 | 258 | 12-Oct-22 |
| 154 | 19-May-22 | 189 | 07-Jul-22 | 224 | 25-Aug-22 | 259 | 13-Oct-22 |
| 155 | 20-May-22 | 190 | 08-Jul-22 | 225 | 26-Aug-22 | 260 | 14-Oct-22 |
| 156 | 23-May-22 | 191 | 11-Jul-22 | 226 | 29-Aug-22 | ||
| 157 | 24-May-22 | 192 | 12-Jul-22 | 227 | 30-Aug-22 | ||
| 158 | 25-May-22 | 193 | 13-Jul-22 | 228 | 31-Aug-22 | ||
| 159 | 26-May-22 | 194 | 14-Jul-22 | 229 | 01-Sep-22 | ||
| 160 | 27-May-22 | 195 | 15-Jul-22 | 230 | 02-Sep-22 | ||
| 161 | 30-May-22 | 196 | 18-Jul-22 | 231 | 05-Sep-22 | ||
| 162 | 31-May-22 | 197 | 19-Jul-22 | 232 | 06-Sep-22 | ||
| 163 | 01-Jun-22 | 198 | 20-Jul-22 | 233 | 07-Sep-22 | ||
| 164 | 02-Jun-22 | 199 | 21-Jul-22 | 234 | 08-Sep-22 | ||
| 165 | 03-Jun-22 | 200 | 22-Jul-22 | 235 | 09-Sep-22 | ||
| 166 | 06-Jun-22 | 201 | 25-Jul-22 | 236 | 12-Sep-22 | ||
| 167 | 07-Jun-22 | 202 | 26-Jul-22 | 237 | 13-Sep-22 | ||
| 168 | 08-Jun-22 | 203 | 27-Jul-22 | 238 | 14-Sep-22 | ||
| 169 | 09-Jun-22 | 204 | 28-Jul-22 | 239 | 15-Sep-22 | ||
| 170 | 10-Jun-22 | 205 | 29-Jul-22 | 240 | 16-Sep-22 | ||
| 171 | 13-Jun-22 | 206 | 01-Aug-22 | 241 | 19-Sep-22 | ||
| 172 | 14-Jun-22 | 207 | 02-Aug-22 | 242 | 20-Sep-22 | ||
| 173 | 15-Jun-22 | 208 | 03-Aug-22 | 243 | 21-Sep-22 | ||
| 174 | 16-Jun-22 | 209 | 04-Aug-22 | 244 | 22-Sep-22 | ||
| 175 | 17-Jun-22 | 210 | 05-Aug-22 | 245 | 23-Sep-22 |