buy anmca receive the dividends of 3.2c every 6 months for the next two years; pay the extra 30 cents required to own the full note;
Sell ANM short and bingo!
ANMCA 14c (+30c due in Jan 2003)
ANM 45c
ANM no current dividend
ANMCA 6.4 cent interest payment over two years.
ANMCA converts to ANM
Correct me if I'm wrong.
