ISO 15022 Data Field Dictionary

MT564: (5) Field 22F: Indicator

FORMAT

Option F :4!c/[8c]/4!c (Qualifier)(Data Source Scheme)(Indicator)

PRESENCE

Mandatory in mandatory sequence A

QUALIFIER

(Error code(s): T89)

Order

M/O

Qualifier

R/N

CR

Options

Qualifier Description

1

O

CAEP

N

 

F

Corporate Action Event Processing

2

M

CAEV

N

C4, C6, C10, C11

F

Corporate Action Event Indicator

3

M

CAMV

N

 

F

Mandatory/Voluntary Indicator

DEFINITION

This qualified generic field specifies:

CAEP

Corporate Action Event Processing

Type of processing involved by a Corporate Action.

CAEV

Corporate Action Event Indicator

Specifies the type of corporate event.

CAMV

Mandatory/Voluntary Indicator

Specifies whether the event is mandatory, mandatory with options or voluntary.

CODES

If Qualifier is CAEP and Data Source Scheme is not present, Indicator must contain one of the following codes:

DISN

CA Results in a Distribution

The holder of the relevant security on a certain date, for example, the record date, will receive a benefit without giving up the underlying security.

GENL

General

No debit or credit of resources.

REOR

CA Results in a Reorganisation

The underlying security will be debited and may be replaced by another resource (or resources).

CODES

If Qualifier is CAEV and Data Source Scheme is not present, Indicator must contain one of the following codes:

ACCU

Accumulation

Funds related event in which the income (for example accumulation units) that accrues during an accounting period is retained within the fund instead of being paid away to investors. The retained income is nonetheless deemed to have been distributed to investors for tax purposes.

ACTV

Trading Status: Active

Trading in the security has commenced or security has been re-activated after a suspension in trading.

ATTI

Attachment

Combination of different security types to create a unit. Units are usually comprised of warrants and bonds or warrants and equities. Securities may be combined at the request of the security holder or based on market convention.

BIDS

Repurchase Offer/Issuer Bid/Reverse Rights

Offer to existing holders by the issuing company to repurchase its own securities. The objective of the offer is to reduce the number of outstanding securities.

BMET

Bond Holder Meeting

Physical meeting of bond holders.

BONU

Bonus Issue/Capitalisation Issue

Bonus or capitalisation issue. Security holders receive additional assets free of payment from the issuer, in proportion to their holding.

BPUT

Put Redemption

Early redemption of a security at the election of the holder subject to the terms and condition of the issue with no reduction in nominal value.

BRUP

Bankruptcy

Legal status of a company unable to pay creditors. Bankruptcy usually involves a formal court ruling. Securities may become valueless.

CAPD

Capital Distribution

The Corporate event pays shareholders an amount in cash issued from the Capital account. There is no reduction to the face value of a single share (or the share has no par value). The number of circulating shares remains unchanged.

CAPG

Capital Gains Distribution

Distribution of profits resulting from the sale of company assets, for example, Shareholders of Mutual Funds, Unit Trusts, or Sicavs are recipients of capital gains distributions which are often reinvested in additional shares of the fund.

CAPI

Capitalisation

Increase of the current principal of a debt instrument without increasing the nominal value. It normally arises from the incorporation of due but unpaid interest into the principal. This is commonly done by increasing the pool factor value, for example, capitalisation, and negative amortisation.

CERT

Non-US TEFRA D Certification

Non-US beneficial owner certification requirement for exchange of temporary to permanent notes.

CHAN

Change

Information regarding a change further described in the corporate action details.

CLSA

Class Action/Proposed Settlement

Situation where interested parties seek restitution for financial loss. The security holder may be offered the opportunity to join a class action proceeding and would need to respond with an instruction.

CMET

Court Meeting

Announcement of a meeting at a Court.

CONS

Consent

Procedure that aims to obtain consent of holder to a proposal by the issuer or a third party without convening a meeting. For example, consent to change the terms of a bond.

CONV

Conversion

Conversion of securities (generally convertible bonds or preferred shares) into another form of securities (usually common shares) at a pre-stated price/ratio.

COOP

Company Option

A Company Option may be granted by the company, allowing the holder to take up shares at some future date(s) at a pre arranged price in the company. A company may not grant options which enable the holder to take up unissued shares at a time which is five or more years from the date of the grant. Option holders are not members of a company. They are contingent creditors of a company and hence may, in some instances, be entitled to vote on and be bound by a scheme of arrangement between the creditors and the company. As many options have multiple exercise periods a company option will either lapse or carry on to the next expiry date.

CREV

Credit Event

An occurrence of credit derivative for which the issuer of one or several underlying securities is unable to fulfill his financial obligations (as defined in terms and conditions).

DECR

Decrease in Value

Reduction of face value of a single share or the value of fund assets. The number of circulating shares/units remains unchanged. This event may include a cash payout to holders.

DETI

Detachment

Separation of components that comprise a security, for example, usually units comprised of warrants and bond or warrants and equity. Units may be broken up at the request of the security holder or based on market convention.

DFLT

Bond Default

Failure by the company to perform obligations defined as default events under the bond agreement and that have not been remedied.

DLST

Trading Status: Delisted

Security is no longer able to comply with the listing requirements of a stock exchange and is removed from official board quotation.

DRAW

Drawing

Securities are redeemed in part before the scheduled final maturity date. It is done without any pool factor reduction. The redemption is reflected in a debit of the face amount (FAMT). Drawing is distinct from partial call since drawn bonds are chosen by lottery. Therefore, not every holder is affected in the same way.

DRCA

Cash Distribution From Non-Eligible Securities Sales

Distribution to shareholders of cash resulting from the selling of non-eligible securities, for example, in the frame of a depositary receipt program.

DRIP

Dividend Reinvestment

Dividend payment where holders can keep cash or have the cash reinvested in the market by the issuer into additional shares in the issuing company. To be distinguished from DVOP as the company invests the dividend in the market rather than creating new share capital in exchange for the dividend.

DSCL

Disclosure

Requirement for holders or beneficial owners to disclose their name, location and holdings of any issue to the issuer.

DTCH

Dutch Auction

An action by a party wishing to acquire a security. Holders of the security are invited to make an offer to sell, within a specific price range. The acquiring party will buy from the holder with lowest offer.

DVCA

Cash Dividend

Distribution of cash to shareholders, in proportion to their equity holding. Ordinary dividends are recurring and regular. Shareholder must take cash and may be offered a choice of currency.

DVOP

Dividend Option

Distribution of a dividend to shareholders with a choice of benefit to receive. Shareholders may choose to receive shares or cash. To be distinguished from DRIP as the company creates new share capital in exchange for the dividend rather than investing the dividend in the market.

DVSC

Scrip Dividend/Payment

Dividend or interest paid in the form of scrip.

DVSE

Stock Dividend

Dividend paid to shareholders in the form of equities of the issuing corporation.

EXOF

Exchange

Exchange of holdings for other securities and/or cash. The exchange can be either mandatory or voluntary involving the exchange of outstanding securities for different securities and/or cash. For example "exchange offer", "capital reorganisation" or "funds separation".

EXRI

Call on Intermediate Securities

Call or exercise on nil paid securities or intermediate securities resulting from an intermediate securities distribution (RHDI). This code is used for the second event, when an intermediate securities' issue (rights/coupons) is composed of two events, the first event being the distribution of intermediate securities.

EXTM

Maturity Extension

As stipulated in the security's Terms and Conditions, the issuer or the holder may prolong the maturity date of a security. After extension, the security details may differ from the original issue. An issuer initiated extension may be subject to holder's approval.

EXWA

Warrant Exercise

Option offered to holders to buy (call warrant) or to sell (put warrant) a specific amount of stock, cash, or commodity, at a predetermined price, during a predetermined period of time (which usually corresponds to the life of the issue).

INCR

Increase in Value

Increase in the face value of a single security. The number of circulating securities remains unchanged.

INFO

Information

Information provided by the issuer having no accounting/financial impact on the holder.

INTR

Interest Payment

Interest payment distributed to holders of an interest bearing asset.

LIQU

Liquidation Dividend/Liquidation Payment

A distribution of cash, assets or both. Debt may be paid in order of priority based on preferred claims to assets specified by the security.

MCAL

Full Call/Early Redemption

The redemption of an entire issue outstanding of securities, for example, bonds, preferred equity, funds, by the issuer or its agent, for example, asset manager, before final maturity.

MEET

Annual General Meeting

Annual general meeting.

MRGR

Merger

Exchange of outstanding securities, initiated by the issuer which may include options, as the result of two or more companies combining assets, that is, an external, third party company. Cash payments may accompany share exchange.

NOOF

Non-Official Offer

Offers that are not supervised or regulated by an official entity and being offered by a party, for example a broker, usually at a discount price, for example broker offer, mini-tender, mini odd lot offer or third party offer.

ODLT

Odd Lot Sale/Purchase

Sale or purchase of odd-lots to/from the issuing company, initiated either by the holder of the security or through an offer made by the issuer.

OMET

Ordinary General Meeting

Ordinary general meeting.

OTHR

Other Event

Other event, use only when no other event type applies, for example, a new event type.

PARI

Pari-Passu

Occurs when securities with different characteristics, for example, shares with different entitlements to dividend or voting rights, become identical in all respects, for example, pari-passu or assimilation. May be scheduled in advance, for example, shares resulting from a bonus may become fungible after a pre-set period of time, or may result from outside events, for example, merger, reorganisation, issue of supplementary tranches, etc.

PCAL

Partial Redemption Without Pool Factor Reduction

Securities are redeemed in part before their scheduled final maturity date. It is done without any pool factor reduction. The redemption is reflected in a debit of the face amount (FAMT).

PDEF

Partial Defeasance/Pre-Funding

Issuer has money set aside to redeem a portion of an issue and the indenture states that the securities could be called earlier than the stated maturity.

PINK

Pay In Kind

Interest payment, in any kind except cash, distributed to holders of an interest bearing asset.

PLAC

Place of Incorporation

Changes in the state of incorporation for US companies and changes in the place of incorporation for foreign companies. Where shares need to be registered following the incorporation change, the holder(s) may have to elect the registrar.

PPMT

Instalment Call

An instalment towards the purchase of equity capital, subject to an agreement between an issuer and a purchaser.

PRED

Partial Redemption With Pool Factor Reduction

Securities are redeemed in part before their scheduled final maturity date. The redemption is reflected in a pool factor reduction. No movement of securities occurs.

PRII

Interest Payment with Principal

An event which consists of two components, the decrease of the amortized value of a pool factor security and an interest payment.

PRIO

Priority Issue

Form of open or public offer where, due to a limited amount of securities available, priority is given to existing shareholders.

REDM

Final Maturity

The redemption of an entire issue outstanding of securities, for example, bonds, preferred equity, funds, by the issuer or its agent, for example, asset manager, at final maturity.

REDO

Redenomination

Event by which the unit (currency and/or nominal) of a security is restated, for example, nominal/par value of security in a national currency is restated in another currency.

REMK

Remarketing Agreement

Purchase and sale of remarketed preferred equities/bonds through the negotiation of interest rate between the issuers and the holders.

RHDI

Intermediate Securities Distribution

The distribution of intermediate securities that gives the holder the right to take part in a future event.

RHTS

Rights Issue/Subscription Rights/Rights Offer

Offer to holders of a security to subscribe for additional securities via the distribution of an intermediate security. Both processes are included in the same event.

SHPR

Shares Premium Dividend

This corporate event pays shareholders an amount in cash issued from the shares premium reserve. It is similar to a dividend but with different tax implications.

SMAL

Smallest Negotiable Unit

Modification of the smallest negotiable unit of shares in order to obtain a new negotiable unit.

SOFF

Spin-Off

A distribution of securities issued by another company. The distributed securities may either be of a newly created or of an existing company. For example, spin-off, demerger, unbundling, divestment.

SPLF

Stock Split/Change in Nominal Value/Subdivision

Increase in a corporation's number of outstanding equities without any change in the shareholder's equity or the aggregate market value at the time of the split. Equity price and nominal value are reduced accordingly.

SPLR

Reverse Stock Split/Change in Nominal Value

Decrease in a company's number of outstanding equities without any change in the shareholder's equity or the aggregate market value at the time of the split. Equity price and nominal value are increased accordingly.

SUSP

Trading Status: Suspended

Trading in the security has been suspended.

TEND

Tender/Acquisition/Takeover/Purchase Offer

An offer made to holders by a third party, requesting them to sell (tender) or exchange their securities.

TNDP

Tax On Non-Distributed Proceeds

Taxable component on non-distributed proceeds, for example, Australian deemed income or US 871m income regulation.

TREC

Tax Reclaim

Event related to tax reclaim activities.

WRTH

Worthless

Booking out of valueless securities.

WTRC

Withholding Tax Relief Certification

Certification process for withholding tax reduction or exemption based on the tax status of the holder.

XMET

Extraordinary or Special General Meeting

Extraordinary or special general meeting.

CODES

If Qualifier is CAMV and Data Source Scheme is not present, Indicator must contain one of the following codes:

CHOS

Mandatory CA Event; Instruction Required

Participation in the corporate action is mandatory and further instructions from the account owner are required, unless a default option has been specified.

MAND

Mandatory CA Event; No Instruction Required

Participation in CA event is mandatory. Further instructions from the account owner are not required.

VOLU

Voluntary CA Event; Instruction Required to Participate

Participation in the corporate action is voluntary. If the owner wishes to take part in the event, instructions from the account owner are required.

USAGE RULES

The code OTHR must only be used in case no other corporate action event code is appropriate.

The code CHAN must only be used in case no other corporate action event code is appropriate and only for an event which relates to a change.

The code REDM must only be used when the redemption is decided by the issuer and not by the securities holders.

Market Practice Rules

The Securities Market Practice Group (SMPG) has published market practice recommendations on the use and combination of Corporate Action Event Indicator, Mandatory/Voluntary Indicator and Corporate Action Option Code Indicator. This document, the Event Interpretation Grid, is available on www.smpg.info.

------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------