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The Payout refers to the amount (in dollars) owed, if any, to the Contract Holder if the Ending Indicative Property Value falls below the Property Value Trigger. The Payout is the amount equal to the product of (i) an amount equal to (a) the greater of (1) Ending Indicative Property Value or (2) Property Value Cap, minus (b) the Property Value Trigger, and (ii) the product of (a) the Starting Indicative Property Value Coverage and (b) negative one (-1). The cumulative amount of a Payout will not exceed the Maximum Payout. If the Ending Indicative Property Value is above the Property Value Trigger, there is no Payout and thus, no calculation is required.

For more information about these terms, please refer to the respective FAQs: "What is the Contract Holder?", "What is the Ending Indicative Property Value?", "What is the Property Value Trigger?", "What is the Property Value Cap?", "What is the Starting Indicative Property Value Coverage?", and "What is the Maximum Payout?".