Edward: Your mother is positively salivating about the Quartermaine treasure on that sunken clipper ship.
Ned: And you aren't?
Edward: Well, of course I am, but I'm not the kind of person who would double-cross his own family.
Ned: Heaven forbid.
Edward: No, you see, Ned, we have to out-maneuver Tracy before she does the same to us.
Ned: You know, it's not going to be easy getting that treasure up off the bottom of the harbor.
Edward: I know. That's why we need Tracy’s resources. But once we get the treasure, we're going to cut her out and leave her penniless. Oh, hello Tracy dear. Merry Christmas, huh?
Tracy: Merry Christmas, Daddy. Why do I have the distinct impression the two of you are gearing up to stab me in the back?
Alexis: All right. I have got presents for everyone. Hi! You, too. Um -- Nikolas, I never know what to get you, so when you open yours, just pretend you like it, all right? It's really late. I have to get going.
Nikolas: Why? For what?
Alexis: Well, because Santa’s going to be at the hospital. I want to take Kristina to see him.
Emily: Oh. Have fun.
Alexis: Thanks.
Nikolas: Well, Emily and I -- we're going to the hospital. Why don't we all just ride together?
Alexis: Well, you know what? I don't -- I don't want to rush you guys.
Nikolas: No, no, you're not, you're not.
Alexis: Come here!
Nikolas: I have to stop off and give Lulu her gift.
Alexis: Nice shoes. I see your shoes. Yes, I do. They're beautiful. You know what? Lulu's going to want to spend some time with you, so I think it's just easier. Why don't we just go separate and we'll see you there, okay?
Emily: Okay. Bye.
Nikolas: Okay, what -- why do I get the feeling there's a plot being hatched behind my back?
"O Holy Night" Plays.
Nikolas: I know that it's in here somewhere. It's -- ok, it's a box about the size of a blender. Ugh -- I ruined the surprise. It's a blender.
Emily: Oh, great. Just what I've always wanted.
Nikolas: Yeah, well, then you are in for a disappointment, because I -- I don't know. I just can't find it. Oh, well. I hope that'll do.
Emily: Thanks.
Emily chuckles.
Emily: Okay. Oh. Oh, Nikolas. It's -- it's beautiful. It's the most beautiful ring I've ever seen.
Nikolas: Nothing else would be good enough for you.
Emily: Oh. It's too extravagant. You shouldn't have bought it.
Nikolas: No, no, no, no. This ring represents everything you mean to me. The trust I have in you, the faith that you've given me for our future. As long as we're together, we -- we can get through anything.
Emily: I'll wear it for the rest of my life.
"O Holy Night" ends.
Christmas music plays.
Emily: Well, now it's -- it's your turn for your present.
Nikolas: Yes.
Nikolas: It's the deed to Wyndemere. What -- that's impossible. I -- I sold it. Alexis filed the paperwork yesterday. I pushed the sale through early so I could have the money to buy your ring.
Emily: Well, you should have looked closer at the buyer, but I'm glad you didn’t.
Nikolas: You?
Emily: With a lot of help from Alexis.
Nikolas: But you -- you don't have that kind of money. Unless Lila released some of your trust fund early.
Emily: Merry Christmas.
Nikolas: Merry Christmas.
The Quartermaines and others are gathered at the hospital for the annual Christmas party when Emily arrives.
Emily: Hi. Notice anything different about me?
Alan gasps.
Alan: Whoa.
Monica: Emily, it's gorgeous!
Alan: Whoa.
Edward: Well, it's a bit flashy, isn't it?
Monica: Don't start, Edward.
Tracy: What are Alan and Monica thinking, letting Emily marry Nikolas? I begged Ned to stay away from you. You Cassadines are all mentally unhinged.
Alexis: People in glass mental institutions shouldn't throw stones.
Tracy: He's just after her for her trust fund.
Alexis: Actually, you know what? I think they happen to love each other.
Tracy: Do you read a lot of women's magazines? You have the lingo down pat.
Santa: Ho-ho-ho-ho-ho!
Boy: Ho-ho! Ho-ho-ho!
Santa: Who wants some presents?
Girl: Me.
Santa: Have you been good, little girl?
Santa laughs.
Santa: How have you been?
Monica: Hello, Santa.
Edward: Merry Christmas. Merry Christmas.
Santa: Oh, don't sit in Santa’s place.
"Deck the Halls" plays.
Santa: Here we go.
Girl: Yay!
Santa: How many children can I hold?
Luke goes to Lesley's and watches through the window as LuLu opens her bicycle present. He goes to leave without letting them know he was there.
Nikolas: Aren't you going to go inside?
Luke: I can’t.
Nikolas: You can't even wish your own daughter a Merry Christmas, Luke?
Luke: I don't belong here, not that it's any of your business.
Nikolas: Well, Lesley Lou is my sister, so it does make it my business. She doesn't care whether you think you belong or not, Luke. She just wants to see her father, that's all.
Luke: Well, it's better that she doesn’t.
Nikolas: Can't you move past your own selfishness long enough to give your daughter a happy Christmas, Luke?
Luke: You're going to lecture me on selfishness? You and your clan? You want I should list the maniacal egomaniacs that have marched across your family history over the last 50 years? Mikkos, Stavros, Helena, Stefan? And they're all dead, man. All they wanted was power, money, more control -- and they're all dead -- except Helena, who's worse than dead. She's irrelevant. You're the only one left. You're the end of the line. You're the Prince. The Prince of what? You're bankrupt! The legacy is over, Nikolas.
Nikolas: You think you're better than the Cassadines? Why don't you prove it? Huh? Make a sacrifice. Put your feelings aside and give your daughter a happy Christmas.
Luke: Thank you very much for your analysis of my feelings and my parenting skills. Now you can take your holiday cheer, wrap it up in a nice, little box, put some ribbon on it, and stuff it somewhere warm until the snow melts.
Nikolas: You know what? You're right. You're right. I shouldn't be wasting your time. You can't comprehend the meaning of anything, much less Christmas. Because you're too busy wallowing in your own damn misery. Merry Christmas.
Music plays.
Music plays.
Singer: Chestnuts roasting on an open fire, Jack Frost nipping at your nose. Yuletide carols being sung by a choir and folks dressed up like Eskimos. Everybody knows a turkey and some mistletoe help to make the season bright. Tiny tots with their eyes all aglow will find it hard to sleep tonight. They know that Santa’s on his way; he's loaded lot of toys and goodies on his sleigh and ev'rymother's child is gonna spy to see if reindeer really know how to fly and so I'm offering this simple phrase to kids from 1 to 92. Although it's been said many times, many ways Merry Christmas to you.
During the song, there is a GH montage. One of the scenes is Nikolas and Emily at Wyndemere by the tree. Emily is standing watching the tree and Nikolas comes up behind her. He turns her around, raises her hand, kisses her ring and then they share a Christmas kiss. The montage leads into Luke starting to have his Christmas dream which leads into the special Christmas episode.