EFTA Document EFTA01353510

underlying index is below the exercise price of the option. Whether the variability option is in the money is deter- mined in relation only to the value of the underlying varia- bility index, and not in relation to the reference index. The information set forth on pages 26 through 28 of the Booklet under the caption "Features of Index Options" is generally applicable to variability options. However, the method of determining the exercise settle- ment value for certain variabilq options may