Note
On September 29, 2023, Kellanova, formerly known as Kellogg Company (NYSE: K) (“K”), completed its separation from WK Kellogg Co (NYSE: KLG) (“KLG”), resulting into two independent publicly traded companies. The spin-off was completed by the distribution of one share of KLG’s common stock for every four shares of K’s common stock held. This extraordinary event triggered an adjustment in accordance with the terms and conditions of the market-linked GICs. As such, the Closing Level on the Issuance Date of the common shares of K was adjusted as of the closing of the markets on September 29, 2023.
On October 3, 2022, ABB Ltd (SW: ABBN) (ABB) completed the spin-off of Accelleron Industries AG (SW: ACLN) (Accelleron) by the special distribution of one share of Accelleron for every 20 shares of ABB held. This event triggered a Potential Adjustment Event as per the terms and conditions of the market-linked GICs in respect of the common shares of ABB, a Reference Share in the Reference Portfolio of the market-linked GICs. As such, the Initial Value of the common shares of ABB was adjusted as of the closing of the markets on October 3, 2022.