TSKB’s New Foreign ‘Exchange Warrant’ Offering

After offering its first FX Warrant on 27 May 2011, TSKB is making its second FX Warrant offering on 15 December 2011.

The Industrial Development Bank of Turkey (TSKB), the first private investment and development bank of Turkey, continues offering ‘Foreign Exchange Warrants’ to the public.

‘Foreign Exchange Warrants’ will start trading on 15 December 2011 and expire on 15 March 2012. Call Warrant’s strike is 1.92 (USD/TRY) and Put Warrant’s strike is 1.78 (USD/TRY).

Warrants are securitized options; therefore they are traded in organized exchanges. TSKB Foreign Exchange Warrants give the holder the right to buy or sell the currency at a predetermined price at the expiry date. The investors can sell their warrants before the expiry or alternatively do cash settlement of the warrant at the expiry date. TSKB Foreign Exchange Warrants will be traded on the ISE Collective Products Market and YF Securities will be the market maker.