Answering my own options question...
>CBOE Research Circular #RS99-442
>
>June 24, 1999
>
>Ascend Communications, Inc. ("ASND/QQA/LZC/ZSD") COMPLETED Merger
>with Lucent Technologies Inc.
>
>Shareholders of Ascend Communications, Inc. ("ASND/QQA/LZC/ZSD")
>on Thursday, June 24, 1999, approved a proposed Merger between
>ASND and Lucent Technologies Inc. ("LU"). Pursuant to the terms
>of the Merger, each share of ASND Common Stock outstanding
>immediately prior to the consummation of the Merger will be
>converted into the right to receive 1.65 shares of LU Common
>Stock. The Merger closed on June 24, 1999.
>
>Contract Adjustments
>
>Pursuant to Article VI, Section 11, of OCC's By-Laws, all outstanding
>QQA/LZC/ZSD options shall be adjusted as follows. On Friday, June 25, 1999,
>each adjusted Ascend Communications, Inc. contract will require the
>receipt or delivery of 165 shares of LU Common Stock. Premiums for the
>adjusted Ascend Communications, Inc. options will continue to be calculated
>on the basis of a multiplier of 100, i.e., for premium and strike-price
>extensions, 1.00 will equal $100. The Ascend Communications, Inc. QQA
>option symbol will change to YZA. The LZC LEAPS option symbol will
>change to KZC. The ZSD LEAPS option symbol will change to ZDV. [Any
>FLEX series that may exist will be adjusted in a similar manner to the
>standardized option.]
>
>Settlement
>
>The OCC will delay settlement of YZA/KZC/ZDV exercise and assignment
>activity until the end of "when issued" trading in LU, if any.
>
>Questions regarding this memo can be addressed to the CBOE Investor
>Services Department at 1-800-OPTIONS (1-800-678 4667), press 3, press 3. |
