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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).
Glossary
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