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Method and system for administering a discounted security

  • US 8,219,475 B2
  • Filed: 11/11/2010
  • Issued: 07/10/2012
  • Est. Priority Date: 01/25/2001
  • Status: Expired due to Term
First Claim
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1. A computer-implemented financial method, said method comprising the steps of:

  • determining, using a programmed computer, a discount price of an underlying security;

    structuring, using the programmed computer, an exchange traded exchangeable security with a minimum holding period exchange date and an exchange maturity date, wherein said exchangeable security can be exchanged, at the option of the holder, for a predetermined specific number of shares of the underlying security at a time beginning or later than the minimum holding period and ending at the predetermined exchange maturity date, the exchangeable security linked to a pre-determined linked payment paid to the holder of said exchangeable security at said maturity date if said exchangeable security is tendered for the underlying security at a time on or after the minimum holding period through the maturity date;

    determining, using the programmed computer, the payment amount linked to the exchangeable security;

    setting, using the programmed computer, an offering price at a first time for the exchangeable security with the linked payment amount, wherein the offering price is the discounted price of the underlying security;

    issuing, using the programmed computer, the exchangeable security;

    determining, using the programmed computer, at a second time if the time exceeds the minimum holding period and exchanging, the underlying security for the exchangeable security; and

    determining, using the programmed computer, if the second time is at or after the maturity date, and crediting the linked payment amount.

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