RAIT Financial Trust (fka RASFQ)

[Stock]

http://www.optionsclearing.com/components/docs/market-data/infomemos/2011/jun/28991.pdf

DATE: JUNE 8, 2011
SUBJECT: RAIT FINANCIAL TRUST - ANTICIPATED REVERSE SPLIT
OPTION SYMBOLS: RAS
NEW SYMBOLS: RAS1
DATE: 7/1/11 ???

RAIT Financial Trust (RAS) has announced a 1-for-3 reverse stock split. When the reverse split
becomes effective, every three RAIT Financial Trust Common Shares will be automatically combined
into one Common Share. The reverse stock split is anticipated to become effective at the close of
business on June 30, 2011.

CONTRACT ADJUSTMENT
Effective Date: Expected to be July 1, 2011
Option Symbols: RAS changes to RAS1
Contract Multiplier: 1
Strike Divisor: 1
New Multiplier: 100 (e.g., for premium or strike dollar extensions 1.00 will equal $100)
New Deliverable Per Contract: 1) 33 (New) RAIT Financial Trust (RAS) Common Shares
2) Cash in lieu of .3333 fractional RAS shares

CUSIP: RAS (New): 749227609

PRICING
Until the cash in lieu of fractional shares is determined, the underlying price for RAS1 will be determined as follows:

RAS1 = .333333 (RAS)