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ddutta

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ddutta

Re: olddog967 post# 412118

Tuesday, 09/27/2016 3:46:33 PM

Tuesday, September 27, 2016 3:46:33 PM

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olddog967, is this calculation correct?

Based on bond price of $121.50, someone is paying approximately $87.93 for each share of IDCC (1215/13.8172 = $87.93).

IMHO, they are not buying a $100 face value bond at $121.50 for its original 1.5% yield.

And if they buy it for $121.50, hold it to maturity and do not convert, they will only get the face value of $100. Unless they convert, they loose $21.50 less the 1.5% interest (approx. $6).

If this is correct, then the bond price is telling us that we are going much higher.

TIA
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