Adjusted exercise price
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Campbell R. Harvey's Hypertextual Finance Dictionary
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Adjusted exercise price
Term used in
options
on
Ginnie Mae
(Government National Mortgage Association)
contracts
. The final
exercise price
of the
option
accounts for the
coupon rates
carried on
Ginnie Mae
mortgages
. For example, if the standard GNMA
mortgage
has an 9%
yield
, the price of GNMA pools with 13% mortgages in them is altered so that the
investor
receives the same
yield
.
Copyright © 2000,
Campbell R. Harvey
. All Rights Reserved.
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