The final valuation date is the date used to determine the final value for the PPN’s underlying benchmark when calculating the variable rate of return earned by the PPN. For example, if the PPN’s underlying benchmark is a stock market index and the PPN states that its final valuation date is September 15, 2014 and on this date the stock market index is at a value of 12,000, then September 15, 2014 is the PPN’s final valuation date and 12,000 is the final index level used to calculate the variable rate of return for the PPN.
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