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Technology Stocks : Global Crossing - GX (formerly GBLX) -- Ignore unavailable to you. Want to Upgrade?

To: BWAC who wrote (11291)	5/17/2001 12:17:38 PM
From: Ally	Read Replies (2) \| Respond to of 15615

BWAC, There is no such thing as a floorless convertible. That whole thread is misguided. All convertibles are stated in terms of either a conversion price, or conversion ratio, both having the same end. For example, a convertible security of $1,000 par value, convertible to 25 shares has a conversion price of $40. During the convertible time frame, a holder can exchange the security for 25 shares at any time. There is no such thing as willy nilly conversion. I suggest everyone on that thread to read a text book on convertible securities.