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Guaranteed Exchange Rate Warrant
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Covered warrants on non-United States stock indexes issued in the United States by a sovereign or a financial intermediary with the currency exchange rate at maturity fixed at the spot rate in effect at issuance. Also called Secondary Currency Option, Guaranteed Warrant-but all guaranteed warrants do not fix the exchange rate at issuance. See Guaranteed Exchange Rate Option. See also Covered Warrant, Quantity Adjusting Option (QUANTO) (1), Foreign Stock Index Options, Warrants, and Futures.
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