Subject: FW: HDPE IM Swap
From: [email-masked]
To: legal <[email-masked]>
Cc: [email-masked], [email-masked]
Date: Wed, 17 Oct 2001 11:44:46 -0700 (PDT)

Mark,

Below is a new financial product type for the plastics desk.  Please review and let us know if the description looks OK.  We are planning to have the product type uploaded for this coming Monday.

Thanks,

CW
3-7533

 -----Original Message-----
From: 	Meredith, Kevin  
Sent:	Wednesday, October 17, 2001 1:35 PM
To:	Walker, Chris
Subject:	RE: LHDPE Swap

Use this long desc.

 -----Original Message-----
From: 	Walker, Chris  
Sent:	Wednesday, October 17, 2001 1:15 PM
To:	Meredith, Kevin
Subject:	FW: LHDPE Swap

 -----Original Message-----
From: 	Walker, Chris  
Sent:	Wednesday, October 17, 2001 10:29 AM
To:	LeBroc, Christian
Subject:	LHDPE Swap

Let me know if this description is acurate, particularly the language in RED.

US HDPE IM Swap    CMAI                    Nov01-Apr02     c/LB

A US Plastics financial Swap Transaction with Enron North America Corp. for high density polyethylene, injection molding grade under which the Seller pays a Floating Price and the Buyer pays the price submitted by the  Counterparty on the Website (the Fixed Price) in each case in respect of the Notional Quantity per Determination Period.  Each calendar month during the term of the Transaction will be a Determination Period. The Notional Quantity per Determination Period shall be the volume submitted by the Counterparty via the Website. The Payment Date(s) will be 5 business days after the Floating Price is determinable. The Floating Price shall be the Index for the relevant Determination Period.
The term of the Transaction shall correspond to the date(s) set forth in the Product description on the Website.
The Index for a month shall be the arithmetic average of the high and low Cents/Pound prices of High Density Polyethylene - Injection Molding grade published under the headings "Global Plastics & Polymers Report: Month Ending Prices (DATE) North America : High Density PE Injection Molding" in the month-end issue of Chemical Market Associates, Inc.'s Global Plastics & Polymers Market Report effective for such month.
The price is quoted in cents (US) per unit of measure which will be the Contractual Currency.
The unit of measure against which the price is quoted shall be pounds.

Thanks,

CW
3-7533