Watford, where do you get 200% from for BEPPA? Assuming payments are compounded to reset in July 2012 and BBSW+1.15 averages 7%, that's 1.07^3.75 = $1.29 return at reset. (I ignore the 2.5% or 7.5% conversion discount as that could easily be lost reselling BBI shares.)
At a current price of 15c, the return at reset is 129/15 = 8.6x, which over 3.63 years works out at 8.6^(1/3.63) = 1.8. So about 80% per annum.
I think there's something wrong with your spreadsheet.
BBI Price at posting:
7.5¢ Sentiment: LT Buy Disclosure: Not Held
