timpb oversold versus tim, page-9

sorry, my mistake; yes, 6.75 times $2

revised calculations:

Receive 6.75% fully franked times $2.00 face value in coupons. In Sep09, get 4 TIM shares per TIMPB;

If TIM=27 cents in Sep09, receive $1.08 value from conversion plus 13.5 cents along the way = $1.21 say;

51 cents tremndous buying!

If TIM=10 cents in Sep09, TIMPB is 40 cents value plus 13.5 cents coupon=53.5 cents; Gross breakeven is around TIM=10 cents.

That better?