On Pmt Currency

Key On Pmt Currency in Contingent Claim refers to the optional denomination currency of the paid out amount that becomes relevant only if the trigger function Trigger Fn evaluates to TRUE during a particular simulation run.

If omitted, there exist two cases:

1)If the On Pmt Account is specified, the paid out amount is of no monetary nature, but only a notional number associated with the provided On Pmt Account.

2)If the On Pmt Account is not specified, the denomination currency becomes context-dependent and is determined as soon as the Contingent Claim becomes part of a given Structured Product, in which case the following may happen:
a) If the underlyings in the given Structured Product - as defined through the key Underlyings - are all linked to the same currency C, then C is assumed to be the denomination currency here.
b) If no such a common currency exists, an error is issued.

If an explicit currency is provided here, it will take precedence over any currency that might be implied by the underlyings involved in any given Structured Product.