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Technology Stocks : Apple Inc.
AAPL 278.72+0.5%3:59 PM EST
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To: Phillip C. Lee who wrote (9455)3/14/1998 5:55:00 PM
From: David Semoreson  Read Replies (1) of 213176
 
>For the issue of converting bonds into stock, I personally think
>thepercentage of bonds to be converted to stock (when stock price
>reaches a certain price) will be trivial.

Once above the strike price, the bond appreciates with the stock and reduces your effective yield.

The owner must convert on the last due date (i think 2001) or get less than full value. Its like walking away from in-th-money options.

These are NOT little old ladies buying AAPL "junk bonds".
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