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Strategies & Market Trends : Arbitrage Plays
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To: Keith J who wrote (296)3/17/2001 6:01:37 PM
From: Mark Davis  Read Replies (1) of 376
 
I'd comment on these Perqs if I could make sense of the fine print. These are the antithesis of the KISS principle.

Acceleration Event

If on any date the product of the Market
Price per share of Sun Microsystems Stock and
the Exchange Factor is less than $4.00, the
maturity date of the Reset PERQS will be
deemed to be accelerated to such date, and we
will apply each $6.51875 principal amount of
each Reset PERQS as payment for a number of
shares of Sun Microsystems Stock at the then current
Exchange Ratio, as adjusted by the then
current Exchange Factor. See also
"Antidilution Adjustments" below.

Is this relevant? Also , how did you come up with the 339 shares of RPS which seems to imply a profit of $446 per hedge as of Fridays closing price.
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