Österreichische Volksbanken-Aktiengesellschaft ... - Volksbank AG

If on any determination date in relation to the Underlying or an Underlying contained
in a Basket a Market Disruption (as defined below) occurs or continues to
exist and no value can thus be determined, the determination date shall be postponed
to the first Business Day on which the market disruption ceases to exist and
the relevant payment date shall be postponed accordingly.
Market Disruption means, to the extent the Final Terms (item 20b(xi)) contain no
other or additional market disruption events, (i) the suspension or limitation of
trading of the Underlying or one or more Underlyings contained in a Basket, or in
the case of Notes whose Underlying consists of one or more indices, one or more
of the components contained in the relevant index, at the Reference Stock Exchange
(see item 20b(xii) of the Final Terms), to the extent such a suspension or
disruption in the opinion of the Issuer materially affects the calculation of such
Underlying, or (ii) suspension or limitation of trading of future or option contracts
referring to the respective Underlying (or in the case of Notes whose Underlying
consists of one or more indices, of one or more relevant components contained in
such index) on the Relevant Options Exchange, or (iii) if the Reference Stock Exchange
(see item 20b(xii) of the Final Terms) does not open for business or closes
early (prior to the normal close of trading), (iv) if the price or another relevant
value (including rates of interest) for the calculation of the Underlying is not published
or not available, or (v) in the opinion of the Issuer another material disruption
of the calculation or publication of the value of the Underlying or one or more
Underlyings contained in a Basket.
If the Underlyings (or components of Baskets) are commodities, market disruption
shall additionally be constituted by (i) material changes in the calculation formula
or method regarding the relevant commodity, (ii) the introduction, change or abolition
of any tax concerning the relevant commodity, or (iii) other material modifications
regarding the relevant commodity.
If the Underlyings (or components of a Basket) are funds or units in a fund, market
disruption shall additionally be constituted if (i) no net asset value is published for
the units in the fund, (ii) the units in a fund can not be redeemed or returned for any
reason whatsoever, (iii) the fund is closed, merged or becomes insolvent, or (iv)
other circumstances occur which do not allow a calculation of the net asset value of
the fund units.
If market disruptions occur during the term of the Notes, the Issuer has the right to
determine the price of the Underlying affected by the market disruption in such a
way that it corresponds to the market conditions prevailing on that day in the assessment
of the Calculation Agent.
A limitation of hours or number of days on which trading takes place does not constitute
a market disruption to the extent the limitation results from a prior announced
change of regular business hours of the respective stock exchange. A limitation
of trading because of price movements exceeding certain predetermined
thresholds and occurring during a trading day only constitutes a market disruption
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