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Contract Adjustment

Direxion Daily Small Cap Bear 3X Shares (TZA) will undergo a 1-for-5 reverse stock split effective June 28, 2019. As a result, each TZA share will convert to 0.20 of a new TZA share. The futures symbol for TZA will change from TZA1D to TZA2D to reflect the reverse stock split, and the new deliverable per contract will be 20 new TZA shares with a multiplier of 100. The underlying price of TZA2D futures will be calculated as 0.20 times the price of TZA.

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36 views2 pages

Contract Adjustment

Direxion Daily Small Cap Bear 3X Shares (TZA) will undergo a 1-for-5 reverse stock split effective June 28, 2019. As a result, each TZA share will convert to 0.20 of a new TZA share. The futures symbol for TZA will change from TZA1D to TZA2D to reflect the reverse stock split, and the new deliverable per contract will be 20 new TZA shares with a multiplier of 100. The underlying price of TZA2D futures will be calculated as 0.20 times the price of TZA.

Uploaded by

David Briggs
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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#45155

DATE: JUNE 7, 2019

SUBJECT: DIREXION DAILY SMALL CAP BEAR 3X SHARES ‒ REVERSE


SPLIT
FUTURES SYMBOL: TZA1D
NEW SYMBOL: TZA2D
DATE: 6/28/19

Direxion Daily Small Cap Bear 3X Shares (TZA) has announced a 1-for-5 reverse stock split. As a result of
the reverse stock split, each TZA Share will be converted into the right to receive 0.20 (New) Direxion Daily
Small Cap Bear 3X Shares. The reverse stock split will become effective before the market open on June
28, 2019.

CONTRACT ADJUSTMENT

Pursuant to Article XII, Section 3, of OCC's By-Laws, all TZA1D Security Futures will be adjusted as
follows:

Effective Date: June 28, 2019

Futures Symbol: TZA1D changes to TZA2D

Settlement Prices: No Change

Multiplier: 100 (e.g., for premium extensions 1.00 will equal $100)

New Deliverable
Per Contract: 20 (New) Direxion Daily Small Cap Bear 3X Shares (TZA)

CUSIP: TZA (New): 25460E125

PRICING

The underlying price for TZA2D will be determined as follows:

TZA2D = 0.20 (TZA)


DISCLAIMER

This Information Memo provides an unofficial summary of the terms of corporate events affecting listed
options or futures prepared for the convenience of market participants. OCC accepts no responsibility for
the accuracy or completeness of the summary, particularly for information which may be relevant to
investment decisions. Option or futures investors should independently ascertain and evaluate all
information concerning this corporate event(s).

The determination to adjust options and the nature of any adjustment is made by OCC pursuant to OCC
By-Laws, Article VI, Sections 11 and 11A. The determination to adjust futures and the nature of any
adjustment is made by OCC pursuant to OCC By-Laws, Article XII, Sections 3, 4, or 4A, as applicable. For
both options and futures, each adjustment decision is made on a case by case basis. Adjustment
decisions are based on information available at the time and are subject to change as additional
information becomes available or if there are material changes to the terms of the corporate event(s)
occasioning the adjustment.

ALL CLEARING MEMBERS ARE REQUESTED TO IMMEDIATELY ADVISE ALL BRANCH OFFICES AND
CORRESPONDENTS ON THE ABOVE.

For questions regarding this memo, call Investor Services at 1-888-678-4667 or email
[email protected]. Clearing Members may contact Member Services at 1-800-544-6091 or,
within Canada, at 1-800-424-7320, or email [email protected].

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