Printer Friendly

SALOMON INC ISSUES CALL WARRANTS ON AMEX HONG KONG 30 INDEX

 NEW YORK, Nov. 5 /PRNewswire/ -- The American Stock Exchange today listed Salomon Inc call warrants based on the AMEX Hong Kong 30 Index, a newly created index of 30 common stocks trading on The Stock Exchange of Hong Kong. The AMEX Hong Kong 30 Index Call Warrants will trade under the ticker symbol HKS.WS.
 Issued by Salomon Inc, the warrants are cash settled in U.S. dollars and expire on November 3, 1995. They can be exercised any day prior to expiration.
 At the start of today's trading, HKS.WS opened at 6-1/2 on an initial trade of 112,000 warrants.
 The Salomon call warrants carry a strike price of 450.75 and are expected to trade much like call options on the AMEX Hong Kong 30 Index, typically rising in value when the index rises, and falling when the index declines. The cash settlement value, as determined by Salomon Inc, is the Spot Index level minus the Strike Price divided by 10.
 Created by the Exchange, the AMEX Hong Kong 30 Index is a capitalization-weighted stock index which measures the composite price performance of the 30 selected stocks on The Stock Exchange of Hong Kong. Representing a substantial segment of the Hong Kong stock market, these securities primarily represent areas of finance, property development, utilities and conglomerates, as well as food retailing, hotel/leisure, property investment, airlines and luxury retailing.
 The AMEX Hong Kong 30 Index is calculated once each day based on the official closing Hong Kong prices and is disseminated before the opening of trading under symbol HKX.
 The introduction of the Hong Kong 30 Index warrants follows earlier precedents set by the Exchange when it was the first U.S. securities marketplace to provide a market in warrants based on the Eurotrack 200, France's CAC-40 Index, London's FT-SE 100 and Japan's Nikkei Stock Average.
 -0- 11/5/93
 /CONTACT: Steven Shapiro, 212-306-1634 or Kathleen Fitzpatrick, 212-306-1697, both of American Stock Exchange/
 (SB)


CO: Salomon Inc. ST: New York IN: FIN SU: OFR

WB -- NY041 -- 1237 11/05/93 12:43 EST
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Nov 5, 1993
Words:347
Previous Article:SYSCO BOARD OF DIRECTORS PROMOTES TWO OFFICERS TO NEW LEVELS OF RESPONSIBILITY
Next Article:M. CHRISTINE DEVITA ELECTED TO READER'S DIGEST BOARD
Topics:

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters