NAB 0.62% $25.77 national australia bank limited

help with installment warrant..pls

  1. 465 Posts.
    Im lookin at NABIMD currently priced at 1.27/1.30.

    Exercise price or 2nd payment $31.50 against current price of NAB @ 30.85.

    XD of 7/6/2003 approx.
    Warrant expires on 20/5/03. so the Installment warrant cant include the divi!!!

    So whats the story?

    Why is this warrant so expensive for what is effectively an out of the money call without any div entitlement?

    Confused.
    TIA
 
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