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As-You-Like Warrant
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A warrant with a provision permitting the purchaser to designate it as either a call warrant or a put warrant for a limited period after the offering date. In general, the option to treat the instrument as a put warrant is of relatively little value. The underlying will have to decline substantially before a put will be worth more than the initial value of the call. Also called Call Or Put (COP), Chooser Option, Switchback Option or Warrant, You Choose Warrant.
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