Hi Richo,The other option will be, not to redeem, and stepup the...

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    Hi Richo,
    The other option will be, not to redeem, and stepup the margin from 2.4 to 4.65%.
    ALZ/AAZPB a good example of this.
    A move from mid 30's to mid 70's[AAZPB's price] with an interest rate of 180 day rate plus 4.65%[on par value of $100] a reasonable consolation prize.
    cheers

    pxupa
 
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