CBBC to be expired in the coming month

Sorted by Maturity Date
Updated: 15 September 2026 Download    Print friendly
* Information on settlement (Settlement Instructions) arrangements in CCASS
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No. CBBC Code CBBC Name Issuer Underlying Bull/
Bear
Strike/Call
Currency
Strike Level Call
Level
Entitlement Ratio^ Last Trading Date
(D-M-Y)
Maturity Date
(D-M-Y)
*Last Settlement Date
(D-M-Y)
*Cessation Date for CCASS Eligibility
(D-M-Y)
1. 49515 SG#DJIA RC2609C SG DJI Bull - 42650 43000 390000 17-09-2026 18-09-2026 21-09-2026 22-09-2026
2. 49522 SG#NQ100RC2609D SG NDX Bull - 21800 22000 312000 17-09-2026 18-09-2026 21-09-2026 22-09-2026
3. 49559 JP#NQ100RC2609C JP NDX Bull - 23400 23600 312000 17-09-2026 18-09-2026 21-09-2026 22-09-2026
4. 49578 JP#NQ100RC2609D JP NDX Bull - 24400 24600 312000 17-09-2026 18-09-2026 21-09-2026 22-09-2026
5. 49982 JP#NQ100RC2609B JP NDX Bull - 22600 22800 312000 17-09-2026 18-09-2026 21-09-2026 22-09-2026
6. 49993 SG#S&P RC2609B SG SPX Bull - 6150 6200 46800 17-09-2026 18-09-2026 21-09-2026 22-09-2026
7. 56913 UB#CATL RC2609C UB 03750 Bull HKD 491 500 500 17-09-2026 18-09-2026 21-09-2026 22-09-2026
8. 67808 BP#HSI RC2609A BP HSI Bull - 14860 14960 10000 17-09-2026 29-09-2026 - - #
9. 67838 BP#HSI RC2609O BP HSI Bull - 14900 15000 20000 17-09-2026 29-09-2026 - - #
10. 68487 BP#SMIC RC2609A BP 00981 Bull HKD 42.4 43 100 17-09-2026 30-09-2026 - - #
11. 51602 UB#HKEX RC2610E UB 00388 Bull HKD 258 260 500 18-09-2026 09-10-2026 - - #
12. 56313 UB#BYD RP2610A UB 01211 Bear HKD 106.9 105.5 100 18-09-2026 09-10-2026 - - #
13. 64929 UB#SMIC RC2609B UB 00981 Bull HKD 47.4 48 100 18-09-2026 21-09-2026 22-09-2026 23-09-2026
14. 66328 UB#CSPC RP2610A UB 01093 Bear HKD 12.3 12 10 18-09-2026 06-10-2026 - - #
15. 66641 UB#HKEX RC2610A UB 00388 Bull HKD 183 185 500 18-09-2026 05-10-2026 - - #
16. 68761 UB#SMIC RC2610E UB 00981 Bull HKD 39.4 40 100 18-09-2026 05-10-2026 - - #
17. 69606 HS#SMIC RC2609B HS 00981 Bull HKD 48.2 49 100 18-09-2026 21-09-2026 22-09-2026 23-09-2026
18. 69933 UB#AIA RC2610G UB 01299 Bull HKD 56.4 57 100 18-09-2026 08-10-2026 - - #
19. 65674 UB#HKEX RC2609G UB 00388 Bull HKD 318 320 500 22-09-2026 23-09-2026 24-09-2026 25-09-2026
20. 51666 HS#HKEX RC2609A HS 00388 Bull HKD 258 260 500 25-09-2026 28-09-2026 29-09-2026 30-09-2026
21. 55713 SG#CATL RC2609C SG 03750 Bull HKD 476 485 500 25-09-2026 28-09-2026 29-09-2026 30-09-2026
22. 55995 SG#HUAHORC2609D SG 01347 Bull HKD 30.2 32 100 25-09-2026 28-09-2026 29-09-2026 30-09-2026
23. 58460 SG#ALIBARC2609B SG 09988 Bull HKD 79.3 80.8 500 25-09-2026 28-09-2026 29-09-2026 30-09-2026
24. 61470 SG#HUAHORC2609G SG 01347 Bull HKD 37.2 39 100 25-09-2026 28-09-2026 29-09-2026 30-09-2026
25. 50010 HU#HSI RC2609X HU HSI Bull - 17321 17421 10000 28-09-2026 29-09-2026 30-09-2026 02-10-2026
26. 50057 BI#HSI RC2609M BI HSI Bull - 17150 17250 10000 28-09-2026 29-09-2026 30-09-2026 02-10-2026
27. 50059 HS#HSI RC2609P HS HSI Bull - 15800 15900 10000 28-09-2026 29-09-2026 30-09-2026 02-10-2026
28. 50060 HS#HSI RC2609Y HS HSI Bull - 15900 16000 10000 28-09-2026 29-09-2026 30-09-2026 02-10-2026
29. 50115 BI#HSI RC2609N BI HSI Bull - 17300 17400 10000 28-09-2026 29-09-2026 30-09-2026 02-10-2026
30. 50116 BI#HSI RC2609O BI HSI Bull - 17450 17550 10000 28-09-2026 29-09-2026 30-09-2026 02-10-2026
31. 50134 HU#HSI RC2609O HU HSI Bull - 17572 17672 10000 28-09-2026 29-09-2026 30-09-2026 02-10-2026
32. 50136 HU#HSI RC2609S HU HSI Bull - 17400 17500 10000 28-09-2026 29-09-2026 30-09-2026 02-10-2026
33. 50137 HU#HSI RC2609W HU HSI Bull - 17200 17300 10000 28-09-2026 29-09-2026 30-09-2026 02-10-2026
34. 50141 HU#HSI RC2609P HU HSI Bull - 15500 15600 10000 28-09-2026 29-09-2026 30-09-2026 02-10-2026
35. 50206 SG#HSI RC2609E SG HSI Bull - 15828 15928 10000 28-09-2026 29-09-2026 30-09-2026 02-10-2026
36. 50289 BI#HSI RC2609P BI HSI Bull - 17878 17978 10000 28-09-2026 29-09-2026 30-09-2026 02-10-2026
37. 50290 BI#HSI RC2609Q BI HSI Bull - 17800 17900 10000 28-09-2026 29-09-2026 30-09-2026 02-10-2026
38. 50293 BI#HSI RC2609R BI HSI Bull - 17700 17800 10000 28-09-2026 29-09-2026 30-09-2026 02-10-2026
39. 50294 BI#HSI RC2609S BI HSI Bull - 17500 17600 10000 28-09-2026 29-09-2026 30-09-2026 02-10-2026
40. 50379 UB#HKEX RC2609D UB 00388 Bull HKD 223 225 500 28-09-2026 29-09-2026 30-09-2026 02-10-2026
41. 50429 BI#HSI RC2609T BI HSI Bull - 18175 18275 10000 28-09-2026 29-09-2026 30-09-2026 02-10-2026
42. 50430 BI#HSI RC2609U BI HSI Bull - 18000 18100 10000 28-09-2026 29-09-2026 30-09-2026 02-10-2026
43. 50432 BI#HSI RC2609V BI HSI Bull - 18100 18200 10000 28-09-2026 29-09-2026 30-09-2026 02-10-2026
44. 53349 SG#HSTECRC2609G SG HSTEC Bull - 4020 4100 10000 28-09-2026 29-09-2026 30-09-2026 02-10-2026
45. 54959 MS#HSTECRC2609E MS HSTEC Bull - 4120 4200 10000 28-09-2026 29-09-2026 30-09-2026 02-10-2026
46. 58036 SG#C MOBRC2609A SG 00941 Bull HKD 67.4 68 100 28-09-2026 29-09-2026 30-09-2026 02-10-2026
47. 58346 CT#C MOBRC2609B CT 00941 Bull HKD 67.6 68.2 100 28-09-2026 29-09-2026 30-09-2026 02-10-2026
48. 59257 CT#HSI RC2609D CT HSI Bull - 18300 18800 50000 28-09-2026 29-09-2026 30-09-2026 02-10-2026
49. 59850 SG#CATL RC2609A SG 03750 Bull HKD 457 468 500 28-09-2026 29-09-2026 30-09-2026 02-10-2026
50. 60841 SG#HUAHORC2609F SG 01347 Bull HKD 34.7 36.5 100 28-09-2026 29-09-2026 30-09-2026 02-10-2026
51. 64187 SG#SMIC RC2609A SG 00981 Bull HKD 32.9 33.5 100 28-09-2026 29-09-2026 30-09-2026 02-10-2026
52. 64740 HS#HSI RP2609E HS HSI Bear - 30988 30888 60000 28-09-2026 29-09-2026 30-09-2026 02-10-2026
53. 64741 HS#HSI RC2609C HS HSI Bull - 9788 9888 50000 28-09-2026 29-09-2026 30-09-2026 02-10-2026
54. 65194 SG#HKEX RC2609B SG 00388 Bull HKD 292 294 500 28-09-2026 29-09-2026 30-09-2026 02-10-2026
55. 65577 HS#HSI RC26099 HS HSI Bull - 16318 16418 10000 28-09-2026 29-09-2026 30-09-2026 02-10-2026
56. 65617 UB#C MOBRC2609B UB 00941 Bull HKD 67.4 68 100 28-09-2026 29-09-2026 30-09-2026 02-10-2026
57. 65773 BI#C MOBRC2609A BI 00941 Bull HKD 71.88 72.88 100 28-09-2026 29-09-2026 30-09-2026 02-10-2026
58. 66405 HS#HSI RC26098 HS HSI Bull - 16500 16600 10000 28-09-2026 29-09-2026 30-09-2026 02-10-2026
59. 66479 SG#HSI RC26097 SG HSI Bull - 16368 16468 10000 28-09-2026 29-09-2026 30-09-2026 02-10-2026
60. 66666 HS#HSI RC2609E HS HSI Bull - 14150 14250 20000 28-09-2026 29-09-2026 30-09-2026 02-10-2026
61. 66819 BI#HSI RC2609A BI HSI Bull - 16700 16800 10000 28-09-2026 29-09-2026 30-09-2026 02-10-2026
62. 66845 HS#HSI RC2609F HS HSI Bull - 16600 16700 10000 28-09-2026 29-09-2026 30-09-2026 02-10-2026
63. 66886 HS#HSI RC2609L HS HSI Bull - 11900 12000 20000 28-09-2026 29-09-2026 30-09-2026 02-10-2026
64. 66890 HS#HSI RC2609N HS HSI Bull - 13150 13250 20000 28-09-2026 29-09-2026 30-09-2026 02-10-2026
65. 67459 HS#HSI RC2609Q HS HSI Bull - 14828 14928 10000 28-09-2026 29-09-2026 30-09-2026 02-10-2026
66. 67490 JP#HSI RC2609R JP HSI Bull - 14930 15030 10000 28-09-2026 29-09-2026 30-09-2026 02-10-2026
67. 67549 BP#HSI RC2609P BP HSI Bull - 15000 15100 10000 28-09-2026 29-09-2026 30-09-2026 02-10-2026
68. 67577 BP#HSI RC2609F BP HSI Bull - 14800 14900 10000 28-09-2026 29-09-2026 30-09-2026 02-10-2026
69. 67769 SG#HSCEIRC2609A SG HSCEI Bull - 6600 6700 10000 28-09-2026 29-09-2026 30-09-2026 02-10-2026
70. 67772 UB#HSI RC2609Q UB HSI Bull - 15208 15308 10000 28-09-2026 29-09-2026 30-09-2026 02-10-2026
71. 67774 UB#HSI RC2609R UB HSI Bull - 14900 15000 10000 28-09-2026 29-09-2026 30-09-2026 02-10-2026
72. 67936 UB#HSI RC2609U UB HSI Bull - 15100 15200 10000 28-09-2026 29-09-2026 30-09-2026 02-10-2026
73. 68255 SG#ZIJINRC2609E SG 02899 Bull HKD 25.2 25.8 100 28-09-2026 29-09-2026 30-09-2026 02-10-2026
74. 68918 SG#HSTECRC2609E SG HSTEC Bull - 4120 4200 10000 28-09-2026 29-09-2026 30-09-2026 02-10-2026
75. 68971 SG#HSI RC2609G SG HSI Bull - 15348 15448 10000 28-09-2026 29-09-2026 30-09-2026 02-10-2026
76. 68989 JP#HSTECRC2609J JP HSTEC Bull - 4020 4100 10000 28-09-2026 29-09-2026 30-09-2026 02-10-2026
77. 69082 MS#HKEX RC2609C MS 00388 Bull HKD 330.2 332 500 28-09-2026 29-09-2026 30-09-2026 02-10-2026
78. 69148 UB#HSI RC2609L UB HSI Bull - 15238 15338 10000 28-09-2026 29-09-2026 30-09-2026 02-10-2026
79. 69386 HU#HSI RC2609I HU HSI Bull - 16650 16750 10000 28-09-2026 29-09-2026 30-09-2026 02-10-2026
80. 69443 CT#HSI RC2609U CT HSI Bull - 17000 17100 10000 28-09-2026 29-09-2026 30-09-2026 02-10-2026
81. 69555 BI#HSI RC2609J BI HSI Bull - 16800 16900 10000 28-09-2026 29-09-2026 30-09-2026 02-10-2026
82. 69561 HU#HSI RC2609L HU HSI Bull - 16900 17000 10000 28-09-2026 29-09-2026 30-09-2026 02-10-2026
83. 69632 HS#HSTECRC2609E HS HSTEC Bull - 4070 4150 10000 28-09-2026 29-09-2026 30-09-2026 02-10-2026
84. 69739 UB#HSI RC2609S UB HSI Bull - 15600 15700 10000 28-09-2026 29-09-2026 30-09-2026 02-10-2026
85. 69778 JP#HSI RC2609G JP HSI Bull - 15650 15750 10000 28-09-2026 29-09-2026 30-09-2026 02-10-2026
86. 69780 JP#HSI RC2609K JP HSI Bull - 15778 15878 10000 28-09-2026 29-09-2026 30-09-2026 02-10-2026
87. 69929 BI#HSI RC2609K BI HSI Bull - 16900 17000 10000 28-09-2026 29-09-2026 30-09-2026 02-10-2026
88. 69931 BI#HSI RC2609L BI HSI Bull - 17050 17150 10000 28-09-2026 29-09-2026 30-09-2026 02-10-2026
89. 69936 JP#HSI RC2609L JP HSI Bull - 15847 15947 10000 28-09-2026 29-09-2026 30-09-2026 02-10-2026
90. 69938 JP#HSI RC2609Q JP HSI Bull - 15580 15680 10000 28-09-2026 29-09-2026 30-09-2026 02-10-2026
91. 53740 SG#SMIC RC2609F SG 00981 Bull HKD 49.2 49.8 100 29-09-2026 30-09-2026 02-10-2026 05-10-2026
92. 56640 BP#SMIC RC2609B BP 00981 Bull HKD 52.6 53.2 100 29-09-2026 30-09-2026 02-10-2026 05-10-2026
93. 56643 BP#HUAHORC2609A BP 01347 Bull HKD 82.8 84.8 100 29-09-2026 30-09-2026 02-10-2026 05-10-2026
94. 58349 BP#SMIC RC2609C BP 00981 Bull HKD 55.6 56.2 100 29-09-2026 30-09-2026 02-10-2026 05-10-2026
95. 61159 BP#HUAHORC2609B BP 01347 Bull HKD 87.9 89.9 100 29-09-2026 30-09-2026 02-10-2026 05-10-2026
96. 63525 SG#HUAHORC2609C SG 01347 Bull HKD 23.7 25.5 100 29-09-2026 30-09-2026 02-10-2026 05-10-2026
97. 64383 CT#CNOOCRC2609C CT 00883 Bull HKD 13.75 14 50 29-09-2026 30-09-2026 02-10-2026 05-10-2026
98. 64518 BP#TENCTRC2609B BP 00700 Bull HKD 396 399 500 29-09-2026 30-09-2026 02-10-2026 05-10-2026
99. 65195 CT#AIA RC2609B CT 01299 Bull HKD 37.4 38 100 29-09-2026 30-09-2026 02-10-2026 05-10-2026
100. 65356 SG#HKEX RC2609C SG 00388 Bull HKD 311 313 500 29-09-2026 30-09-2026 02-10-2026 05-10-2026
101. 65586 CT#C MOBRC2609C CT 00941 Bull HKD 70.9 71.5 100 29-09-2026 30-09-2026 02-10-2026 05-10-2026
102. 66294 MS#HKEX RC2609B MS 00388 Bull HKD 310.2 312 500 29-09-2026 30-09-2026 02-10-2026 05-10-2026
103. 69800 BP#TENCTRC2609H BP 00700 Bull HKD 406 409 500 29-09-2026 30-09-2026 02-10-2026 05-10-2026
104. 68862 UB#AIA RC2610F UB 01299 Bull HKD 53.4 54 100 30-09-2026 02-10-2026 05-10-2026 06-10-2026
105. 50411 SG#HKEX RC2610A SG 00388 Bull HKD 226 228 500 02-10-2026 05-10-2026 06-10-2026 07-10-2026
106. 50843 MS#HKEX RC2610B MS 00388 Bull HKD 243.2 245 500 02-10-2026 05-10-2026 06-10-2026 07-10-2026
107. 50907 CT#HKEX RC2610A CT 00388 Bull HKD 229.6 231.6 500 02-10-2026 05-10-2026 06-10-2026 07-10-2026
108. 68080 UB#CNOOCRC26106 UB 00883 Bull HKD 19.35 19.6 50 02-10-2026 05-10-2026 06-10-2026 07-10-2026
109. 65454 UB#HKEX RC2610N UB 00388 Bull HKD 313 315 500 05-10-2026 06-10-2026 07-10-2026 08-10-2026
110. 65484 UB#CNOOCRC26101 UB 00883 Bull HKD 15.25 15.5 50 05-10-2026 06-10-2026 07-10-2026 08-10-2026
111. 50940 SG#HKEX RC2610B SG 00388 Bull HKD 236 238 500 06-10-2026 07-10-2026 08-10-2026 09-10-2026
112. 54752 UB#TENCTRC2610M UB 00700 Bull HKD 386.8 390 500 06-10-2026 07-10-2026 08-10-2026 09-10-2026
113. 65074 UB#HKEX RC2610L UB 00388 Bull HKD 298 300 500 06-10-2026 07-10-2026 08-10-2026 09-10-2026
114. 50941 SG#HKEX RC2610C SG 00388 Bull HKD 246 248 500 07-10-2026 08-10-2026 09-10-2026 12-10-2026
115. 56314 UB#TENCTRC2610O UB 00700 Bull HKD 401.8 405 500 07-10-2026 08-10-2026 09-10-2026 12-10-2026
116. 56977 UB#SMIC RC2610I UB 00981 Bull HKD 55.4 56 100 07-10-2026 08-10-2026 09-10-2026 12-10-2026
117. 65447 UB#HKEX RC2610M UB 00388 Bull HKD 323 325 500 07-10-2026 08-10-2026 09-10-2026 12-10-2026
118. 51051 JP#HKEX RC2610C JP 00388 Bull HKD 218 220 500 08-10-2026 09-10-2026 12-10-2026 13-10-2026
119. 51052 JP#HKEX RC2610D JP 00388 Bull HKD 248 250 500 08-10-2026 09-10-2026 12-10-2026 13-10-2026
120. 51275 JP#HKEX RC2610E JP 00388 Bull HKD 240 242 500 08-10-2026 09-10-2026 12-10-2026 13-10-2026
121. 51422 SG#HKEX RC2610D SG 00388 Bull HKD 256 258 500 08-10-2026 09-10-2026 12-10-2026 13-10-2026
122. 54257 JP#SMIC RC2610C JP 00981 Bull HKD 45.9 46.5 100 08-10-2026 09-10-2026 12-10-2026 13-10-2026
123. 59849 JP#SMIC RC2610D JP 00981 Bull HKD 55.4 56 100 08-10-2026 09-10-2026 12-10-2026 13-10-2026
124. 60877 JP#HUAHORC2610A JP 01347 Bull HKD 86.2 88 100 08-10-2026 09-10-2026 12-10-2026 13-10-2026
125. 62447 JP#HUAHORC2610B JP 01347 Bull HKD 96.2 98 100 08-10-2026 09-10-2026 12-10-2026 13-10-2026
126. 65778 BI#HKEX RC2610A BI 00388 Bull HKD 266.88 268.88 500 08-10-2026 09-10-2026 12-10-2026 13-10-2026
127. 65861 JP#HKEX RC2610A JP 00388 Bull HKD 206 208 500 08-10-2026 09-10-2026 12-10-2026 13-10-2026
128. 67094 HS#HKEX RC2610C HS 00388 Bull HKD 263 265 500 08-10-2026 09-10-2026 12-10-2026 13-10-2026
129. 67161 JP#HKEX RC2610B JP 00388 Bull HKD 208 210 500 08-10-2026 09-10-2026 12-10-2026 13-10-2026
130. 68093 UB#CNOOCRC26107 UB 00883 Bull HKD 18.75 19 50 08-10-2026 09-10-2026 12-10-2026 13-10-2026
131. 68551 JP#HKEX RC2610J JP 00388 Bull HKD 276.5 279 500 08-10-2026 09-10-2026 12-10-2026 13-10-2026
132. 68654 UB#SMIC RC2610D UB 00981 Bull HKD 42.4 43 100 08-10-2026 09-10-2026 12-10-2026 13-10-2026
133. 69610 UB#PETCHRC2610G UB 00857 Bull HKD 4.85 5 10 08-10-2026 09-10-2026 12-10-2026 13-10-2026
134. 69703 JP#TENCTRC26109 JP 00700 Bull HKD 378.8 382 500 08-10-2026 09-10-2026 12-10-2026 13-10-2026
135. 51021 UB#HKEX RC2610D UB 00388 Bull HKD 238 240 500 09-10-2026 12-10-2026 13-10-2026 14-10-2026
136. 63201 HS#CATL RC2610A HS 03750 Bull HKD 441 450 500 09-10-2026 12-10-2026 13-10-2026 14-10-2026
137. 64148 HS#SMIC RC2610A HS 00981 Bull HKD 45.7 46.5 100 09-10-2026 12-10-2026 13-10-2026 14-10-2026
138. 65477 UB#CNOOCRC2610Z UB 00883 Bull HKD 14.25 14.5 50 09-10-2026 12-10-2026 13-10-2026 14-10-2026
139. 65688 UB#AIA RC2610D UB 01299 Bull HKD 50.4 51 100 09-10-2026 12-10-2026 13-10-2026 14-10-2026
140. 66168 UB#C MOBRC2610E UB 00941 Bull HKD 65.4 66 100 09-10-2026 12-10-2026 13-10-2026 14-10-2026
141. 56711 UB#SMIC RC2610H UB 00981 Bull HKD 49.9 50.5 100 12-10-2026 13-10-2026 14-10-2026 15-10-2026
142. 63611 UB#CNOOCRC26103 UB 00883 Bull HKD 16.95 17.2 50 12-10-2026 13-10-2026 14-10-2026 15-10-2026
143. 68916 UB#ZIJINRC2610A UB 02899 Bull HKD 25.2 26 100 12-10-2026 13-10-2026 14-10-2026 15-10-2026
144. 69953 UB#C MOBRC2610H UB 00941 Bull HKD 59.4 60 100 12-10-2026 13-10-2026 14-10-2026 15-10-2026
145. 54963 UB#CNOOCRC26102 UB 00883 Bull HKD 16.25 16.5 50 13-10-2026 14-10-2026 15-10-2026 16-10-2026
146. 58106 UB#TENCTRC2610T UB 00700 Bull HKD 391.8 395 500 13-10-2026 14-10-2026 15-10-2026 16-10-2026
147. 63402 UB#AIA RC2610C UB 01299 Bull HKD 42.4 43 100 13-10-2026 14-10-2026 15-10-2026 16-10-2026
148. 51627 UB#HKEX RC2610F UB 00388 Bull HKD 268 270 500 14-10-2026 15-10-2026 16-10-2026 20-10-2026
149. 55450 UB#AIA RC2610H UB 01299 Bull HKD 59.4 60 100 14-10-2026 15-10-2026 16-10-2026 20-10-2026
150. 55605 HS#TENCTRC2610N HS 00700 Bull HKD 406.8 410 500 14-10-2026 15-10-2026 16-10-2026 20-10-2026
151. 56134 UB#SMIC RC2610G UB 00981 Bull HKD 52.4 53 100 14-10-2026 15-10-2026 16-10-2026 20-10-2026
152. 62572 UB#HUAHORC2610B UB 01347 Bull HKD 98.2 100 100 14-10-2026 15-10-2026 16-10-2026 20-10-2026
Notes:
# Early withdrawal of listing was occurred prior to its maturity. Please refer to the relevant issuer's announcement published on HKEXnews website for details. For CCASS Participants, please refer to the CCASS broadcast message for latest information on settlement arrangements.

^ The entitlement ratio in general represents the number of CBBCs required to be exercised into one share or one unit of the underlying asset (subject to any adjustments as may be necessary to reflect any capitalization, rights issue, distribution or the like).