These have just been released (Jan 29th 2014) by CITI.
http://www.asx.com.au/PDF/14-006CTW.pdf
Would be very interested in anyone's take on these products.
My reading of the pdf is that a trade on the SRXKOB is closed out if the price falls to $12.65. There is a carry cost of 9.5% (calculated daily which is 10% PA).
Does this mean that for $2.52 plus 10% PA, you could have a 2 year run for about $3, plus the strike price of $11.88. So the SP would need to be above $15.
Looks wrong to me - what am I missing here??
ASX web site:
SRXKOB
Description: CITIWARRANTS 11.8778 SRX MINI LONG
Type: Call
Issuer: CITIWARRANTS (CGMA)
Commenced trading: 29 Jan 2014
Expiry: 31 Dec 2029
Exercise level: 11.878 (expressed in $ or index points)
Warrants/Structured Products per underlying instrument: 1.0000
Exercise style: American
Warrants/Structured Products issued: 140,000
Product Disclosure Statement
warrants and structured products
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Last
12.8¢ |
Change
0.003(2.00%) |
Mkt cap ! $54.11M | |||
| Open | High | Low | Value | Volume |
| 12.5¢ | 13.5¢ | 12.5¢ | $100.8K | 776.4K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 7 | 710395 | 12.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 13.0¢ | 424086 | 3 |
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| Last trade - 15.58pm 21/06/2024 (20 minute delay) ? |
| SRX (ASX) Chart |