MT 564 Field Specifications

54. Field 22F: Indicator

FORMAT

Option F

:4!c/[8c]/4!c

(Qualifier) (Data Source Scheme) (Indicator)

PRESENCE

Mandatory in an optional sequence

QUALIFIER

(Error code(s): T89)

Order	M/O	Qualifier	R/N	CR	Options	Qualifier Description
1	M	CAOP	N		F	Corporate Action Option Code
2	O	DISF	N		F	Disposition of Fractions
3	O	OFFE	R		F	Offer Type
4	O	OPTF	R		F	Option Features
5	O	RHDI	N	C12	F	Intermediate Securities Distribution Type

DEFINITION

This qualified generic field specifies:

CAOP	Corporate Action Option Code	Possible options or choices available to account owner.
DISF	Disposition of Fractions	How fractions resulting from derived securities will be processed.
OFFE	Offer Type	Specifies the conditions that apply to the offer.
OFFE	Offer Type	The type of treatment of the securities submitted to the offer.
OPTF	Option Features	Possible option features.
RHDI	Intermediate Securities Distribution Type	Intermediates securities distribution type.

CODES

If Qualifier is DISF and Data Source Scheme is not present, Indicator must contain one of the following codes (Error code(s): K22):

BUYU	Buy Up	Buy up to next whole number.
CINL	Fractional Part for cash	Take cash in lieu of fractions.
DIST	Distributed	Take distribution of fractions.
RDDN	Round Down	Round the entitlement down to the last full unit, fractions are discarded
RDUP	Round Up	Round up to next full unit
STAN	Standard	If fraction is 0.5 of a whole entitlement then round up, else round down.

CODES

If Qualifier is CAOP and Data Source Scheme is not present, Indicator must contain one of the following codes (Error code(s): K22):

ABST	Abstain	Vote expressed as abstain. In this case, the issuing company will add the number of shares to the quorum of the meeting. If the voting right is not executed, it will not be added to the quorum. In this case, code NOAC should be used.
AMGT	Vote Against Management	Vote against management.
ATCH	Attach	Combine warrants and bonds or warrants and stock to form unit.
BEAR	Bearer Share Exchange	Exchange from registered shares into bearer shares.
BSPL	Bonus Share Plan	Receive shares issued from the Share Premium Reserve of the company and considered as a capital distribution rather than a disbursement of income, with different tax implications (typically found in Australia).
BUYA	Buy Up	Buy additional securities to round up position.
CASE	Cash and Securities	Election choice includes a combination of both cash and securities.
CASH	Cash	Distribution of cash.
CEXC	Consent and Exchange	Vote to consent to change the terms of the securities agreement and to exchange securities.
CTEN	Consent and Tender	Vote to consent to change the terms of the securities agreement and to tender securities for cash.
CEXC	Consent and Exchange	A Consent and Exchange are Exchange Offers that are linked with a vote on the change to the terms of the indenture. The consent part will have a separate expiration from the purchase or exchange offer. A separate consent fee may be paid to consenting holders. There also may be a record date associated with the consent-limiting holders that may participate.
CTEN	Consent and Tender	A Consent and Tender are Tender Offers that are linked with a vote on the change to the terms of the indenture. The consent part will have a separate expiration from the purchase or exchange offer. A separate consent fee may be paid to consenting holders. There also may be a record date associated with the consent-limiting holders that may participate.
CONN	Consent Denied	Event or proposal not approved.
CONV	Convert	Convert underlying securities into other securities, not cash.
CONV	Convert	Convert underlying securities.
CONY	Consent Granted	Event or proposal approved.
DETH	Detach	Separate units into individual securities - warrants and bonds, warrants and equity.
EXER	Exercise	Exercise intermediate securities or warrants.
DRIP	Reinvestment	Reinvestment proceeds into securities.
EDVO	Enhanced Dividend Option	Option to receive securities that are sold back to the issuing company.
EXER	Exercise	Exercise rights and subscribe to new shares; Exercise warrant.
IBBO	Issuer Buy Back Option	The issuer buys back the rights (or other form of entitlement), as opposed to selling them on the market.
LAPS	Lapse	Allow event or entitled security to expire. offer or privilege to lapse.
MNGT	Vote With Management	Vote with management.
MPUT	Mandatory Put with a Right to Retain	An option to execute a feature of indenture that allows a holder to elect to retain a putable bond.
NOAC	No Action	Option for the account owner not to take part in the event.
NOAC	No Action	Account servicer should take no action on behalf of the account owner.
OFFR	Proposed Rate	In a remarketing of variable notes, the margin that shareholders can propose in respect of the next interest period.
OTHR	Other	A generic corporate action option, to be used in case no other specific code is appropriate.
OVER	Oversubscribe	Subscribe to more new shares than underlying securities position allows, when terms and rights issue allows it.
PROX	Proxy Card	Issue a proxy card in case of voting.
PUTT	Put Securities	Sell or redeem securities with issuing company
REGD	Registered Share Exchange	Exchange from bearer shares into registered shares.
REGS	Regulation S Exchange	Exchange of securities into the Regulation S tranche. Will typically be used in the 'restricted period', i.e. the period when a party can change its holdings between 144A and REGS.
SECU	Securities Option	Benefit is to receive securities.
REGS	Regulation S	Exchange of securities into Regulation S tranche. Regulation S clarifies the conditions under which offers and sales of securities made outside the US are exempt from SEC registration requirements.
SECU	Securities Option	Distribution of securities.
SLLE	Sell Entitlement	Sell the intermediate securities. rights or entitlement.
SPLI	Split Instruction	Option to give a split instruction, eg, a split voting instruction on a meeting.
144A	Rule 144A	Exchange of securities into the 144A tranche. Will typically be used in the 'restricted period', i.e. the period when a party can change its holdings between 144A and REGS.
144A	Rule 144A	Exchange of securities into the 144A tranche. Rule 144A permits Qualified Institutional Buyers (QIB's) to trade privately placed securities without the requirement of holding them for two to three years.

CODES

If Qualifier is OFFE and Data Source Scheme is not present, Indicator must contain one of the following codes (Error code(s): K22):

DISS	Dissenter's Rights	The securities' holder has the right to disagree with a mandatory event. This right is not inherent in all offers and therefore must be noted in announcements only when applicable.
ERUN	Restriction Exchange	Exchange of Restricted to Unrestricted (or vice versa).
FCFS	First Come First Served	The securities will be accepted in the order they have been submitted until the target number of quantity sought is reached.
FINL	Final Offer	Final or last offer to holders subject to offer conditions being reached, eg, 50% accepted on a tender.
FINL	Final Offer	Final or full offer.
MINI	Mini-Tender	Tender Offer, for an equity or fixed-income instrument, that is priced below the current trading price of that instrument.
PART	Partial Offer	Partial offer.
SQUE	Squeeze Out Bid	Offer launched by a company, in possession of a large number of the shares (90% - 95%) of a company (generally as a result of a tender offer), in order to acquire the remaining shares of that company.

CODES

If Qualifier is OPTF and Data Source Scheme is not present, Indicator must contain one of the following codes (Error code(s): K22):

COND	Conditional	Feature whereby the holder can elect to place a condition on the acceptance of the option.
PROR	Pro Ration	Feature whereby the option can be subject to pro ration in case, eg, of over-subscription.
QREC	Quantity to Receive	Feature whereby the holder can elect a quantity to receive.
QOVE	Over and Above	Feature whereby the holder can elect a quantity to receive over and above normal ensured entitlement.
OPLF	Odd Lot Preference	Tender or Exchange with the Odd Lot Preference.
VVPR	Reduced Withholding Tax	Reduced withholding tax rate applies to the option.

COND	Conditional	Feature whereby the holder can elect to place a condition on the acceptance of the option.
PROR	Pro Ration	Feature whereby the option can be subject to pro ration in case, eg, of over-subscription.

CODES

If Qualifier is RHDI and Data Source Scheme is not present, Indicator must contain one of the following codes (Error code(s): K22):

EXRI	Subscription Rights	Distribution of subscription rights.
BIDS	Reverse Rights	Distribution of reverser rights.
BONU	Bonus Rights	Distribution of bonus rights.
PRIO	Open Offer Rights	Distribution of open offer rights.
DRIP	Dividend Reinvestment Securities	Distribution of dividend reinvestment securities.
DVOP	Dividend Option	Distribution of dividend option.

USAGE RULES

If for an exercise of warrants or an exercise of rights, the proceeds are known, the more precise codes like CASH, SECU, CASE or NOAC should be used. If the proceeds are at issuer choice, ie, the proceeds are not known upfront, EXER should be used.

If for a conversion event, the proceeds are known, the more precise codes like CASH, SECU, CASE or NOAC should be used. If the proceeds are at issuer choice, ie, the proceeds are not known upfront, CONV should be used.