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Strategies & Market Trends : Floorless Preferred Stock/Debenture
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To: Michael H who wrote (1269)12/15/2000 10:03:32 PM
From: Larry Brubaker   of 1438
 
Yep, that sure looks like a floorless to me, but a bit less toxic than some because the conversion price is determined on specific dates (the effective dates of the registration statements for each tranche.) Once the price is set, there is no longer any incentive to short to lower the conversion price.
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