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Strategies & Market Trends : Floorless Preferred Stock/Debenture -- Ignore unavailable to you. Want to Upgrade?


To: Land Shark who wrote (966)9/15/1999 12:26:00 AM
From: Larry Brubaker  Read Replies (1) | Respond to of 1438
 
<<SS WEBB @ 12 3/4, wish me luck...>>

You might be a little premature on this one. The conversion ceiling is about $10.35 (ceiling is 110% of August 26 closing price of @ $10.25). While the price is now comfortably above the ceiling, the bandits probably would want to see it a bit higher before they put in their hedge.

Floorless kicks in 120 days from August 26, which I calculate to be Christmas Eve.