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Method and system for administering a discounted security

  • US 7,451,109 B2
  • Filed: 01/25/2001
  • Issued: 11/11/2008
  • Est. Priority Date: 01/25/2001
  • Status: Expired due to Term
First Claim
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1. A financial method performed at least partially on a programmed computer for issuing an exchangeable security that is traded in a secondary market on a securities exchange and that is related to an underlying security, the method comprising:

  • determining a price of the underlying security at a first time;

    calculating using said programmed computer a discounted price of the underlying security as a discount from the price of the underlying security at the first time; and

    issuing the exchangeable security at the first time and at the discounted price for trading in the secondary market on the securities exchange, the exchangeable security including an exchange right on or after a second time, where under the exchange right, a holder of the exchangeable security may exchange a share of the exchangeable security for a share of the underlying security, the second time after the first time.

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