Dual Trigger Segment Options definition

Dual Trigger Segment Options for your contract. Each Dual Trigger Segment Option will have an Index, Segment Term Period, Trigger Rate, and Buffer Rate. The available Dual Trigger Segment Options are shown on the Segment Contract Schedule. A Dual Trigger Segment Option provides a Segment Credit Percentage equal to the Trigger Rate if the Index Change is positive, zero, or negative but fully offset by the Buffer Rate. If the Index Change is negative and not fully offset by the Buffer Rate, the Segment Credit Percentage is equal to the Index Change plus the Buffer Rate. Dual Trigger Segment Options with a Segment Start Date after the last day of the Withdrawal Charge Period will be limited to one-year Segment Term Periods. Unless you instruct otherwise, the Segment Value of any two-year or three-year Dual Trigger Segment Option expiring on or after the last day of the Withdrawal Charge Period will automatically transfer on its Segment End Date to its one-year counterpart, if available. Dual Trigger Segment Options with a six-year Segment Term Period are available only during the first Contract Year. If you do not request a transfer of the Segment Value of an expiring Segment Option with a six-year Segment Term Period or withdraw the Segment Value, we will transfer the Segment Value to its one-year counterpart, if available. If a one-year counterpart is not available for an expiring Dual Trigger Segment Option, that Segment Value will transfer to the Fixed Segment Option with the shortest Segment Term Period. Part of the Contract This endorsement is attached to and made part of your contract and is subject to all terms and conditions of your contract. Any capitalized terms not defined in this endorsement are defined in the contract. To the extent there are any conflicts between this endorsement and your contract, this endorsement will control. The effective date of this endorsement is the Contract Date. Definitions Index Price The Index Price for any date is the closing price of the Index on that date. The closing price of the Index is the price determined and published by the provider of the Index at the end of each Business Day. Any subsequent change in the reported price will not be reflected in the Index Price used to calculate Segment Credits for the applicable Dual Trigger Segment Option. If the Index Price for a Dual Trigger Segment Option is not available on any given day, then the Index Price as of the first preceding day in which the Index Price is available will be utilized. T...
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Related to Dual Trigger Segment Options

  • Final Trigger Level means 85.00%, being a percentage against which the performance of the Index will be measured in order to determine the Final Redemption Amount.

  • Auto-Call Trigger Level means the level set out below for the relevant Auto-Call Valuation Date (i.e. as shown in the same row as that date):

  • Sequential Trigger Event With respect to any Distribution Date, a Sequential Trigger Event is in effect if (a) with respect to any Distribution Date occurring before July 2009, the circumstances in which the aggregate amount of Realized Losses incurred since the Cut-off Date through the last day of the related Prepayment Period divided by the aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-off Date exceeds 0.20% and (b) with respect to any Distribution Date occurring in or after July 2009, a Trigger Event is in effect.

  • Performance Measurement Period has the meaning set forth in Section 3.1(e)(ii).

  • ii) Trigger Date shall have the meaning set forth in Section 11(a)(iii) hereof.