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3M: 3M Company - Distribution Option Symbols: MMM/2MMM New Symbols: MMM1/2MMM1

The Options Clearing Corporation ·  Mar 13 04:17
Summary by Futu AI
3M Company has announced a distribution of new Solventum Corporation (SOLV) Common Shares to its shareholders. The distribution ratio is set at 0.25 SOLV shares for each share of 3M held by investors. The record date for determining shareholders eligible for the distribution is March 18, 2024, with the payable date set for April 1, 2024. Concurrently, the NYSE has designated April 1, 2024, as the ex-distribution date. In anticipation of this event, Solventum Corporation's shares will start trading on a 'when issued' basis under the symbol 'SOLV WI' starting March 26, 2024. Accompanying this distribution, there will be a contract adjustment for 3M options, with the option symbols changing from MMM to MMM1 and from 2MMM to 2MMM1, effective April 1, 2024. However, there will be no changes to the strike prices or the number of contracts. The new deliverable per contract will include 100 3M Company Common Shares and 25 new Solventum Corporation Common Shares. The settlement allocation for the total strike price amount is intended for the interface between OCC and NSCC and is not meant for other purposes.
3M Company has announced a distribution of new Solventum Corporation (SOLV) Common Shares to its shareholders. The distribution ratio is set at 0.25 SOLV shares for each share of 3M held by investors. The record date for determining shareholders eligible for the distribution is March 18, 2024, with the payable date set for April 1, 2024. Concurrently, the NYSE has designated April 1, 2024, as the ex-distribution date. In anticipation of this event, Solventum Corporation's shares will start trading on a 'when issued' basis under the symbol 'SOLV WI' starting March 26, 2024. Accompanying this distribution, there will be a contract adjustment for 3M options, with the option symbols changing from MMM to MMM1 and from 2MMM to 2MMM1, effective April 1, 2024. However, there will be no changes to the strike prices or the number of contracts. The new deliverable per contract will include 100 3M Company Common Shares and 25 new Solventum Corporation Common Shares. The settlement allocation for the total strike price amount is intended for the interface between OCC and NSCC and is not meant for other purposes.
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