l****q
发帖数: 767 | 1 Dear all,
I have a question from work.
A bank manages our funds for investment. I receive the monthly investment
statement. Last year, the bank bought some reverse convertibles for us, and
we receive option premium each month, also we receive interest payment.
I searched online for "reverse convertible" and "option premium", but I am
still at loss about how this works. I thought the option premium and
interest payment should be the same for each month, but on March's statement
, both option prem | b*****e
发帖数: 1125 | 2 This is very interesting!!! Could you actually find out who is the issuer of
the reverse convertible? My guess is this note has a step cpn which either
step up or down after certain period. You have to rely on the prospectus for
this. As to the Option premium, the bank may sell some options embeded with
notes and that option premium is none fixed based on market condition. | l****q
发帖数: 767 | 3 Thanks!
The issuer is Intel Corp. Is CPN "credit profile number"? So, the option
premium is not the payment calculated by the coupon rate? Instead, it's just
the proceeds from the sale of options? | l****q
发帖数: 767 | 4 今天鼓起勇气将我在这发的问题发给了银行的人, 上来报告一下。他说option premium
和int. payment相加就是得那个我说的数，最后一个人的数降低了，因为差几天才满一
个月。我又问他怎么确定option premium和int. payment的比例，他说underwriter定
的。不过我听到他说了stock's value涨了，option premium就高些，我想不刚刚才说
option premium每个月就那么算么？ face amt不变，coupon rate不变，monthly pmt
怎么变嘛？但是我不想再问了，因为他说话特别快，number出来一串串的，我在那儿叫
一个手忙脚乱啊，不停地说hold on one second，然后就在那儿算他说的那些数 - 本
来以为他回发个email给我解释，结果很突然的打了个电话， 而且可能因为天气很好，
此人心情颇靓，前面整个以聊天为主，oh my god,我心情如此紧张，结果结结巴巴不知
道前面说了些什么，心想怎么还不说我的问题啊。。。 |
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