POSITION LIMIT CIRCULAR PL16-013
DATE:
April 4, 2016
TO:
Permit Holders
RE:
Rentech Nitrogen Partners, L.P. ("RNF") Merger COMPLETED with CVR
Partners, LP ("UAN")
Effective Date: Friday, April 1, 2016
As a result of the above merger, Rentech Nitrogen Partners, L.P. option symbol will
REMAIN THE SAME FOR (1) ONE DAY, AND change to UAN1, effective for Monday,
April 4, 2016. [Any FLEX series that may exist will be adjusted in a similar manner to the
standardized option.]
The Exchange has established that the position and exercise limits following this merger
will be any combination of UAN and UAN1 option contracts on the same side of the
market not to exceed 76,000 contracts (7,600,000 shares) through October 21, 2016.
Following the October 21, 2016 expiration, the position and exercise limits will revert to
the standard limit of 50,000 contracts (5,000,000 shares) of UAN.
Please be reminded that on Friday, April 1, 2016:
Each adjusted Rentech Nitrogen Partners, L.P. contract will require the receipt or
delivery of: (A) 104 common units of CVR Partners, LP ("UAN") plus (B) $257.00 cash.
Please refer to Research Circular #RS16-234.
For additional information, please contact Sherrell Forbes at (312) 786-7178 in the
Regulatory Division.