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   Step-Down Option or Warrant
   















 

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Step-Down Option or Warrant

A stock or equity index call warrant with a downward strike price reset during a limited period, at a specific future date, and/or as a consequence of a drop in the underlying to a predetermined level. Specific terms vary with the issue. See also Anti-Crash Warrant, Complex Option, Partial Lookback Warrant or Option, Reset Option or Warrant (diagram).

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