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Non-Tech : Cendant Corporation (NYSE:CD) -- Ignore unavailable to you. Want to Upgrade?

To: Wren who wrote (1626)8/18/1998 10:26:00 PM
From: Roger B Finlen  Respond to of 3627
 
wren, not quite really, Cd does guar. trust security at 50, and for an A quality security, 200 BP above 2 year note is darn attractive.
Point is Cd has sold you a LEAP call, on a sliding basis. There is a "put" part of contract,that is muddled, but generally says, "if we as a corp can pay it , we will pay 50 dollars, if market will not.


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