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Enron Mail |
Sounds reasonable to me.
Mary Cook 08/30/2000 02:04 PM To: Sara Shackleton/HOU/ECT@ECT, Mark Taylor/HOU/ECT@ECT cc: Subject: Warrant Based Swaps Based upon discussions with Andrea Reed, the res of the swap will be the warrant itself, not the underlying stock. The warrants are valued separately with a "warrant model" and carry a price of their own differentiated from, although affected by, the stock price. I did not get into further detail on the specifics of the modeling. The will provide us the number of warrants, the strike price as of August 3. Otherwise they will work similarly to the stock based swap I think. She said they do not plan to exercise them, but may sell them as warrants. Let me know what you think. Mary
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