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The 2000 TEN+ Index (CBOE symbol: TXS) represents a diversified basket of common stocks of 15 corporations operating in several industry groups selected by Salomon Smith Barney. The initial Index value was set at 100 on the close of the market on September 26, 2000. The stocks that comprise the Index are: American Online, Inc., Amgen, Inc., Baxter International, Inc., Chubb Corporation, Electronic Data Systems Corp., Enron Corporation, Infinity Broadcasting Corporation, Lincoln National Corporation, Nortel Networks Corporation, Pfizer Inc., Philips Electronics N.V., Schlumberger Limited, Target Corporation, Tyco International Ltd., and WorldCom, Inc. "These Warrants provide investors with another means of participating in the appreciation potential of the 2000 TEN+ stocks", said William M. Speth, Director of Capital Markets at CBOE. "Moreover, investors can add a leveraged equity-linked instrument to balance out a portfolio".
Holders of these "American Style" Warrants, which expire on September 26, 2002, are entitled to receive upon exercise an amount in cash computed by reference to increases, if any, in the 2000 TEN+ Index. The cash settlement value of the Warrants will equal the product, if positive, of $10 and the percentage change in the 2000 TEN+ Index from a Strike Index Value equal to 80% of the index's value on the date the warrants are priced for initial sale to the public. All in-the-money Warrants not exercised will be automatically exercised on the expiration date. LIR, L.L.C. is the Designated Primary Market Maker (DPM) for the Warrants. Trading hours are 8:30 a.m. to 3:00 p.m. Chicago time (9:30 a.m. to 4:00 p.m. ET).
CBOE, the world's largest options marketplace and the creator of listed options, is regulated by the Securities and Exchange Commission (SEC). For additional information about the CBOE and its products, access the CBOE site on the World Wide Web at http://www.cboe.com. .
