[vc_row][vc_column width=”2\/3″][vc_column_text]Warrants with collateral (CW) are securities issued by brokerage firms, listed on the stock exchange, assigned their own trading codes and operate similarly to underlying securities. The duration of warrants is a minimum of 3 months and a maximum of 2 years, calculated from the offering date to the expiration date.<\/p>\n

CW is consistently linked with a single underlying stock code and possesses a singular conversion rate used as a reference base for exercising rights. Typically, these underlying securities are part of the VN30 basket.<\/p>\n

As an example, on February 14, 2021, Securities Company A issued a Covered Warrant (CW) for MBB for the first time in 2021, designated as CMBB2101, priced at 10,000 VND. With a conversion ratio of 4:1, this signifies that 4 units of CMBB2101 can be exchanged for 1 MBB share when the right is exercised.<\/p>\n

Given that Vietnam currently exclusively utilizes European-style warrants, investors are only permitted to exercise their rights on the maturity date. Consequently, you have the option to:<\/p>\n

1. Pre-Maturity Sale:<\/strong>
\nThe trading method, fees, and taxes align with those of the underlying securities, but it’s important to note that margin loans are not permitted. Note:<\/p>\n

\n
• The last trading day: two (02) days before the CW’s maturity date. In the event of delisting (excluding due to marturity), the last trading day for warrants is the trading day immediately preceding the effective date of delisting.<\/li>\n
• CW price increment: 10 VND<\/li>\n
• CW Ceiling Price = CW Reference Price + (Underlying Stock Ceiling Price – Underlying Stock Reference Price)\/Conversion Rate<\/li>\n
• CW Floor Price = CW Reference Price – (Underlying Stock Ceiling Price – Underlying Stock Reference Price)\/Conversion Rate<\/li>\n
• Profit (before fees and tax) = (Matched price – Initial price) \u00d7 Quantity<\/li>\n
• Fees and taxes are charged on the Transaction Value = Matched price x Quantity<\/li>\n<\/ul>\n

  2. Exercising rights at maturity:<\/strong><\/p>\n

  \n
  • Settlement Price: The average price of the underlying security over the 5 trading sessions prior to the CW’s maturity date<\/li>\n
  • Strike price: The price at which investors holding covered warrants (CW) have the right to buy\/sell the underlying securities when CW matures. This price is predetermined by the issuing organization during the CW offering and remains fixed throughout the duration of the CW.<\/li>\n<\/ul>\n

    Investors holding covered warrants (CW) until maturity will receive a cash profit, if any, based on the difference between the settlement price on the maturity date and the strike price of the warrants. Therefore, on the maturity date<\/p>\n

    – Loss: Investors receive no returns.
    \n– Break-even: Investors receive no returns.
    \n– Profit:<\/p>\n

    \n
    • Investors will receive the cash profit on day T+5 = (Settlement Price – Strike Price) x (Quantity\/Conversion rate)<\/li>\n
    • Tax payment = 0.1% x Settlement Price x (Quantity\/Conversion rate)<\/li>\n<\/ul>\n

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      Total 0<\/span> Votes<\/div>\r\n

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      B\u1ea1n mu\u1ed1n g\u00f3p \u00fd v\u1ec1 b\u00e0i vi\u1ebft? <\/h2>\r\n\r\n

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      \r\n <\/textarea>\r\n\r\n <p>\r\n <label for=\"captcha\">Captcha:<\/label>\r\n <input id=\"num1\" class=\"sum\" type=\"text\" name=\"num1\" value=\"2\" readonly=\"readonly\" \/> +\r\n <input id=\"num2\" class=\"sum\" type=\"text\" name=\"num2\" value=\"6\" readonly=\"readonly\" \/> =\r\n <input id=\"captcha\" class=\"captcha\" type=\"text\" name=\"captcha\" maxlength=\"2\" \/>\r\n <input id=\"captcha_status\" type=\"hidden\" name=\"captcha_status\" value=\"1\" \/>\r\n <span id=\"spambot\"> Verify Human or Spambot ?<\/span>\r\n <\/p>\r\n\r\n <p class=\"pvm_feedback_submit_container\">\r\n <input type=\"submit\" value=\"Submit\" tabindex=\"6\" id=\"submit\" name=\"submit\" bwl_pvm_feedback_form_id= \"pvm_feedback_form_3916267346\" post_id=\"38812\" bpvm_unique_id=\"3916267346\"\/>\r\n <\/p>\r\n\r\n <input type=\"hidden\" name=\"post_type\" id=\"post_type\" value=\"bwl_pro_voting_manager\" \/>\r\n\r\n <input type=\"hidden\" name=\"action\" value=\"bwl_pro_voting_manager\" \/><input type=\"hidden\" id=\"name_of_nonce_field\" name=\"name_of_nonce_field\" value=\"6d8dd40a8c\" \/><input type=\"hidden\" name=\"_wp_http_referer\" value=\"\/en\/wp-json\/wp\/v2\/posts\/38812\" \/><\/form>\r\n\r\n <\/section>[\/vc_column_text][\/vc_column][vc_column width=”1\/3″ el_class=”widget-sidebar-post2″][vc_row_inner][vc_column_inner offset=”vc_hidden-xs”]<div class=\"title-wrapper basel-title-color-default basel-title-style-simple basel-title-size-default text-left relate-title-default\"><div class=\"liner-continer\"> <span class=\"left-line\"><\/span> <div class=\"title\" >T\u00ecm ki\u1ebfm<span class=\"title-separator\"><span><\/span><\/span><\/div> <span class=\"right-line\"><\/span> <\/div><\/div>[vc_column_text]<\/p>\n<form data-min-no-for-search=5 data-result-box-max-height=400 data-form-id=31928 class=\"is-search-form is-form-style is-form-style-3 is-form-id-31928 is-ajax-search\" action=\"https:\/\/help.tcbs.com.vn\/en\/\" method=\"get\" role=\"search\" ><label for=\"is-search-input-31928\"><span class=\"is-screen-reader-text\">Search for:<\/span><input type=\"search\" id=\"is-search-input-31928\" name=\"s\" value=\"\" class=\"is-search-input\" placeholder=\"Search...\" autocomplete=off \/><span class=\"is-loader-image\" style=\"display: none;background-image:url(https:\/\/help.tcbs.com.vn\/wp-content\/plugins\/add-search-to-menu-premium\/public\/images\/spinner.gif);\" ><\/span><\/label><button type=\"submit\" class=\"is-search-submit\"><span class=\"is-screen-reader-text\">Search Button<\/span><span class=\"is-search-icon\"><svg focusable=\"false\" aria-label=\"Search\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 24 24\" width=\"24px\"><path d=\"M15.5 14h-.79l-.28-.27C15.41 12.59 16 11.11 16 9.5 16 5.91 13.09 3 9.5 3S3 5.91 3 9.5 5.91 16 9.5 16c1.61 0 3.09-.59 4.23-1.57l.27.28v.79l5 4.99L20.49 19l-4.99-5zm-6 0C7.01 14 5 11.99 5 9.5S7.01 5 9.5 5 14 7.01 14 9.5 11.99 14 9.5 14z\"><\/path><\/svg><\/span><\/button><input type=\"hidden\" name=\"id\" value=\"31928\" \/><\/form>\n<p>[\/vc_column_text][vc_empty_space][\/vc_column_inner][vc_column_inner]<div class=\"title-wrapper basel-title-color-default basel-title-style-simple basel-title-size-default text-left relate-title-default\"><div class=\"liner-continer\"> <span class=\"left-line\"><\/span> <div class=\"title\" >C\u00f3 th\u1ec3 b\u1ea1n quan t\u00e2m<span class=\"title-separator\"><span><\/span><\/span><\/div> <span class=\"right-line\"><\/span> <\/div><\/div>[vc_basic_grid post_type=”ids” element_width=”12″ gap=”10″ item=”32260″ grid_id=”vc_gid:1699426898361-a9e57948-1b69-1″ include=”32089, 34420, 34418″ el_class=”list-post-bot-article”][vc_empty_space][\/vc_column_inner][vc_column_inner]<div class=\"title-wrapper basel-title-color-default basel-title-style-simple basel-title-size-default text-left relate-title-default\"><div class=\"liner-continer\"> <span class=\"left-line\"><\/span> <div class=\"title\" >C\u00e2u h\u1ecfi th\u01b0\u1eddng g\u1eb7p<span class=\"title-separator\"><span><\/span><\/span><\/div> <span class=\"right-line\"><\/span> <\/div><\/div>[vc_column_text]<strong><div class=\"ewd-ufaq-faq-list ewd-ufaq-page-type-distinct\" id='ewd-ufaq-faq-list'>\n\n\t<input type='hidden' name='show_on_load' value='' id='ewd-ufaq-show-on-load' \/>\n<input type='hidden' name='include_category' value='' id='ewd-ufaq-include-category' \/>\n<input type='hidden' name='exclude_category' value='' id='ewd-ufaq-exclude-category' \/>\n<input type='hidden' name='orderby' value='date' id='ewd-ufaq-orderby' \/>\n<input type='hidden' name='order' value='desc' id='ewd-ufaq-order' \/>\n<input type='hidden' name='post_count' value='-1' id='ewd-ufaq-post-count' \/>\n<input type='hidden' name='current_url' value='\/en\/wp-json\/wp\/v2\/posts\/38812' id='ewd-ufaq-current-url' \/>\n\t<div class='ewd-ufaq-expand-collapse-div'>\n\n\t<span class='ewd-ufaq-expand-all ' tabindex=\"0\">\n\t\t<span class='ewd-ufaq-toggle-all-symbol'>c<\/span> \n\t\tExpand All\t<\/span>\n\n\t<span class='ewd-ufaq-collapse-all ewd-ufaq-hidden' tabindex=\"0\">\n\t\t<span class='ewd-ufaq-toggle-all-symbol'>C<\/span>\n\t\tCollapse All\t<\/span>\n\n<\/div>\n\t\n\t<div class='ewd-ufaq-faqs'>\n\n\t\t<div class=\"ewd-ufaq-faq-div ewd-ufaq-faq-column-count-one ewd-ufaq-faq-responsive-columns- ewd-ufaq-faq-display-style-default ewd-ufaq-can-be-toggled\" id='ewd-ufaq-post-37933-uOCOoC9KXP' data-post_id='37933'>\n\n\t<div class='ewd-ufaq-faq-title ewd-ufaq-faq-toggle'>\n\t\n\t<a class='ewd-ufaq-post-margin' href='#' role=\"button\">\n\n\t\t<div class='ewd-ufaq-post-margin-symbol ewd-ufaq-'>\n\t\t\t<span >a<\/span>\n\t\t<\/div>\n\n\t\t<div class='ewd-ufaq-faq-title-text'>\n\n\t\t\t<h4>\n\t\t\t\tHow do I place an order to buy and sell warrants?\t\t\t<\/h4>\n\n\t\t<\/div>\n\n\t\t<div class='ewd-ufaq-clear'><\/div>\n\n\t<\/a>\n\t\n<\/div>\n\t\n\t<div class='ewd-ufaq-faq-body ewd-ufaq-hidden' >\n\n\t\t\n\t\t\t\n\t\t\n\t\t\t<div class='ewd-ufaq-post-margin ewd-ufaq-faq-post'>\n\t<p>You can place an order in the <a class=\"external-link\" href=\"https:\/\/tcinvest.tcbs.com.vn\/placing-stock\" rel=\"nofollow\">“Trading stocks”<\/a> section on TCInvest, similar to how you do it for underlying securities.<\/p>\n<section class=\"bwl_pvm_container pvm_clearfix\">\r\n <div class=\"pvm_btn_container pvm_clearfix\" id=\"pvm_btn_container_510122337\"> \r\n <div class=\"btn_like\" title=\"B\u00e0i vi\u1ebft h\u1eefu \u00edch\"><i class=\"fa fa-thumbs-o-up icon_like_color\"><\/i><\/div>\r\n <div class=\"btn_dislike\" title=\"Kh\u00f4ng h\u00e0i l\u00f2ng\"><i class=\"fa fa-thumbs-o-down icon_dislike_color\"><\/i><\/div>\r\n <\/div>\r\n <div class=\"stat-cnt\" id=\"stat-cnt-510122337\" data-result_percentage=\"1\">\r\n <div class=\"total-vote-counter\">Total <span>0<\/span> Votes<\/div>\r\n <div class=\"stat-bar-blank\"><\/div><!-- end .stat-bar-blank -->\r\n <div class=\"dislike-count-container\"><i class=\"fa fa-thumbs-o-down icon_dislike_color\"><\/i> <span>0%<\/span><\/div><div class=\"like-count-container\"><i class=\"fa fa-thumbs-o-up icon_like_color\"><\/i> <span>0%<\/span><\/div>\r\n <\/div>\r\n <\/section><section class=\"bwl-pro-voting-feedback-form-container pvm_clearfix\" id=\"pvm_feedback_form_510122337\">\r\n \r\n <h2>B\u1ea1n mu\u1ed1n g\u00f3p \u00fd v\u1ec1 b\u00e0i vi\u1ebft? <\/h2>\r\n\r\n <div class=\"bwl_pro_form_error_message_box\"><\/div>\r\n \r\n \r\n \r\n <p> \r\n <textarea id=\"feedback_message\" class=\"feedback_message_box\" \/><\/textarea>\r\n\r\n <p>\r\n <label for=\"captcha\">Captcha:<\/label>\r\n +\r\n =\r\n \r\n \r\n <span id=\"spambot\"> Verify Human or Spambot ?<\/span>\r\n <\/p>\r\n\r\n <p class=\"pvm_feedback_submit_container\">\r\n \r\n <\/p>\r\n\r\n \r\n\r\n \r\n\r\n <\/section><\/div>\n\t\t\n\t\t\t\n\t\t\n\t\t\t\n\t\t\n\t\t\t\n\t\t\n\t\t\t\n\t\t\n\t\t\t\n\t\t\n\t\t\t<div class='ewd-ufaq-permalink'>\n\t\n\t<a href='https:\/\/help.tcbs.com.vn\/en\/ufaq\/what-do-i-receive-on-the-expiry-date-of-warrants\/?Display_FAQ=37933'>\n\t\t\n\t\t\t\t <div class='ewd-ufaq-permalink-image'><\/div> \t\n\t<\/a>\n\n<\/div>\n\t\t\n\t\t\t\n\t\t\n\t\t\t\n\t\t\n\t<\/div>\n\n<\/div><div class=\"ewd-ufaq-faq-div ewd-ufaq-faq-column-count-one ewd-ufaq-faq-responsive-columns- ewd-ufaq-faq-display-style-default ewd-ufaq-can-be-toggled\" id='ewd-ufaq-post-37932-mTQyAEQL0J' data-post_id='37932'>\n\n\t<div class='ewd-ufaq-faq-title ewd-ufaq-faq-toggle'>\n\t\n\t<a class='ewd-ufaq-post-margin' href='#' role=\"button\">\n\n\t\t<div class='ewd-ufaq-post-margin-symbol ewd-ufaq-'>\n\t\t\t<span >a<\/span>\n\t\t<\/div>\n\n\t\t<div class='ewd-ufaq-faq-title-text'>\n\n\t\t\t<h4>\n\t\t\t\tWhat is the duration of warrants?\t\t\t<\/h4>\n\n\t\t<\/div>\n\n\t\t<div class='ewd-ufaq-clear'><\/div>\n\n\t<\/a>\n\t\n<\/div>\n\t\n\t<div class='ewd-ufaq-faq-body ewd-ufaq-hidden' >\n\n\t\t\n\t\t\t\n\t\t\n\t\t\t<div class='ewd-ufaq-post-margin ewd-ufaq-faq-post'>\n\t<p>The duration of warrants is a minimum of 3 months and a maximum of 2 years, calculated from the offering date to the expiration date.<\/p>\n<section class=\"bwl_pvm_container pvm_clearfix\">\r\n <div class=\"pvm_btn_container pvm_clearfix\" id=\"pvm_btn_container_2552980025\"> \r\n <div class=\"btn_like\" title=\"B\u00e0i vi\u1ebft h\u1eefu \u00edch\"><i class=\"fa fa-thumbs-o-up icon_like_color\"><\/i><\/div>\r\n <div class=\"btn_dislike\" title=\"Kh\u00f4ng h\u00e0i l\u00f2ng\"><i class=\"fa fa-thumbs-o-down icon_dislike_color\"><\/i><\/div>\r\n <\/div>\r\n <div class=\"stat-cnt\" id=\"stat-cnt-2552980025\" data-result_percentage=\"1\">\r\n <div class=\"total-vote-counter\">Total <span>0<\/span> Votes<\/div>\r\n <div class=\"stat-bar-blank\"><\/div><!-- end .stat-bar-blank -->\r\n <div class=\"dislike-count-container\"><i class=\"fa fa-thumbs-o-down icon_dislike_color\"><\/i> <span>0%<\/span><\/div><div class=\"like-count-container\"><i class=\"fa fa-thumbs-o-up icon_like_color\"><\/i> <span>0%<\/span><\/div>\r\n <\/div>\r\n <\/section><section class=\"bwl-pro-voting-feedback-form-container pvm_clearfix\" id=\"pvm_feedback_form_2552980025\">\r\n \r\n <h2>B\u1ea1n mu\u1ed1n g\u00f3p \u00fd v\u1ec1 b\u00e0i vi\u1ebft? <\/h2>\r\n\r\n <div class=\"bwl_pro_form_error_message_box\"><\/div>\r\n \r\n \r\n \r\n <p> \r\n <textarea id=\"feedback_message\" class=\"feedback_message_box\" \/><\/textarea>\r\n\r\n <p>\r\n <label for=\"captcha\">Captcha:<\/label>\r\n +\r\n =\r\n \r\n \r\n <span id=\"spambot\"> Verify Human or Spambot ?<\/span>\r\n <\/p>\r\n\r\n <p class=\"pvm_feedback_submit_container\">\r\n \r\n <\/p>\r\n\r\n \r\n\r\n \r\n\r\n <\/section><\/div>\n\t\t\n\t\t\t\n\t\t\n\t\t\t\n\t\t\n\t\t\t\n\t\t\n\t\t\t\n\t\t\n\t\t\t\n\t\t\n\t\t\t<div class='ewd-ufaq-permalink'>\n\t\n\t<a href='https:\/\/help.tcbs.com.vn\/en\/ufaq\/what-do-i-receive-on-the-expiry-date-of-warrants\/?Display_FAQ=37932'>\n\t\t\n\t\t\t\t <div class='ewd-ufaq-permalink-image'><\/div> \t\n\t<\/a>\n\n<\/div>\n\t\t\n\t\t\t\n\t\t\n\t\t\t\n\t\t\n\t<\/div>\n\n<\/div><div class=\"ewd-ufaq-faq-div ewd-ufaq-faq-column-count-one ewd-ufaq-faq-responsive-columns- ewd-ufaq-faq-display-style-default ewd-ufaq-can-be-toggled\" id='ewd-ufaq-post-37931-jtdPl6IjJH' data-post_id='37931'>\n\n\t<div class='ewd-ufaq-faq-title ewd-ufaq-faq-toggle'>\n\t\n\t<a class='ewd-ufaq-post-margin' href='#' role=\"button\">\n\n\t\t<div class='ewd-ufaq-post-margin-symbol ewd-ufaq-'>\n\t\t\t<span >a<\/span>\n\t\t<\/div>\n\n\t\t<div class='ewd-ufaq-faq-title-text'>\n\n\t\t\t<h4>\n\t\t\t\tWhat happens when selling a warrant before expiration?\t\t\t<\/h4>\n\n\t\t<\/div>\n\n\t\t<div class='ewd-ufaq-clear'><\/div>\n\n\t<\/a>\n\t\n<\/div>\n\t\n\t<div class='ewd-ufaq-faq-body ewd-ufaq-hidden' >\n\n\t\t\n\t\t\t\n\t\t\n\t\t\t<div class='ewd-ufaq-post-margin ewd-ufaq-faq-post'>\n\t<p>When selling warrants (CW) before expiration, the trading method\/ fees\/ taxes are similar to those of underlying securities, although margin trading is not allowed.<br \/>\n<strong>Please note:<\/strong><br \/>\nNet profit = (Selling CW Price – Buying Price) x Number of CW<br \/>\nFees and taxes are calculated based on the transaction value = Matched CW Price x Number of CW.<\/p>\n<section class=\"bwl_pvm_container pvm_clearfix\">\r\n <div class=\"pvm_btn_container pvm_clearfix\" id=\"pvm_btn_container_2670854919\"> \r\n <div class=\"btn_like\" title=\"B\u00e0i vi\u1ebft h\u1eefu \u00edch\"><i class=\"fa fa-thumbs-o-up icon_like_color\"><\/i><\/div>\r\n <div class=\"btn_dislike\" title=\"Kh\u00f4ng h\u00e0i l\u00f2ng\"><i class=\"fa fa-thumbs-o-down icon_dislike_color\"><\/i><\/div>\r\n <\/div>\r\n <div class=\"stat-cnt\" id=\"stat-cnt-2670854919\" data-result_percentage=\"1\">\r\n <div class=\"total-vote-counter\">Total <span>0<\/span> Votes<\/div>\r\n <div class=\"stat-bar-blank\"><\/div><!-- end .stat-bar-blank -->\r\n <div class=\"dislike-count-container\"><i class=\"fa fa-thumbs-o-down icon_dislike_color\"><\/i> <span>0%<\/span><\/div><div class=\"like-count-container\"><i class=\"fa fa-thumbs-o-up icon_like_color\"><\/i> <span>0%<\/span><\/div>\r\n <\/div>\r\n <\/section><section class=\"bwl-pro-voting-feedback-form-container pvm_clearfix\" id=\"pvm_feedback_form_2670854919\">\r\n \r\n <h2>B\u1ea1n mu\u1ed1n g\u00f3p \u00fd v\u1ec1 b\u00e0i vi\u1ebft? <\/h2>\r\n\r\n <div class=\"bwl_pro_form_error_message_box\"><\/div>\r\n \r\n \r\n \r\n <p> \r\n <textarea id=\"feedback_message\" class=\"feedback_message_box\" \/><\/textarea>\r\n\r\n <p>\r\n <label for=\"captcha\">Captcha:<\/label>\r\n +\r\n =\r\n \r\n \r\n <span id=\"spambot\"> Verify Human or Spambot ?<\/span>\r\n <\/p>\r\n\r\n <p class=\"pvm_feedback_submit_container\">\r\n \r\n <\/p>\r\n\r\n \r\n\r\n \r\n\r\n <\/section><\/div>\n\t\t\n\t\t\t\n\t\t\n\t\t\t\n\t\t\n\t\t\t\n\t\t\n\t\t\t\n\t\t\n\t\t\t\n\t\t\n\t\t\t<div class='ewd-ufaq-permalink'>\n\t\n\t<a href='https:\/\/help.tcbs.com.vn\/en\/ufaq\/what-do-i-receive-on-the-expiry-date-of-warrants\/?Display_FAQ=37931'>\n\t\t\n\t\t\t\t <div class='ewd-ufaq-permalink-image'><\/div> \t\n\t<\/a>\n\n<\/div>\n\t\t\n\t\t\t\n\t\t\n\t\t\t\n\t\t\n\t<\/div>\n\n<\/div><div class=\"ewd-ufaq-faq-div ewd-ufaq-faq-column-count-one ewd-ufaq-faq-responsive-columns- ewd-ufaq-faq-display-style-default ewd-ufaq-can-be-toggled\" id='ewd-ufaq-post-37930-4VYPzgCnoe' data-post_id='37930'>\n\n\t<div class='ewd-ufaq-faq-title ewd-ufaq-faq-toggle'>\n\t\n\t<a class='ewd-ufaq-post-margin' href='#' role=\"button\">\n\n\t\t<div class='ewd-ufaq-post-margin-symbol ewd-ufaq-'>\n\t\t\t<span >a<\/span>\n\t\t<\/div>\n\n\t\t<div class='ewd-ufaq-faq-title-text'>\n\n\t\t\t<h4>\n\t\t\t\tWhat happens to warrant at expiration?\t\t\t<\/h4>\n\n\t\t<\/div>\n\n\t\t<div class='ewd-ufaq-clear'><\/div>\n\n\t<\/a>\n\t\n<\/div>\n\t\n\t<div class='ewd-ufaq-faq-body ewd-ufaq-hidden' >\n\n\t\t\n\t\t\t\n\t\t\n\t\t\t<div class='ewd-ufaq-post-margin ewd-ufaq-faq-post'>\n\t<p>If investors hold warrants until expiry:<\/p>\n<ul>\n<li><strong>Loss:<\/strong> Investors receive nothing.<\/li>\n<li><strong>Break-even:<\/strong> Investors receive nothing.<\/li>\n<li><strong>Profit<\/strong>: The investor:<br \/>\nReceives the price difference on T+5 = (Settlement Price – Exercise Price) x (Number of CW\/Conversion Ratio)<br \/>\nPays a tax = 0.1% x Settlement Price x (Number of CW\/Conversion Ratio)<\/li>\n<\/ul>\n<section class=\"bwl_pvm_container pvm_clearfix\">\r\n <div class=\"pvm_btn_container pvm_clearfix\" id=\"pvm_btn_container_338746771\"> \r\n <div class=\"btn_like\" title=\"B\u00e0i vi\u1ebft h\u1eefu \u00edch\"><i class=\"fa fa-thumbs-o-up icon_like_color\"><\/i><\/div>\r\n <div class=\"btn_dislike\" title=\"Kh\u00f4ng h\u00e0i l\u00f2ng\"><i class=\"fa fa-thumbs-o-down icon_dislike_color\"><\/i><\/div>\r\n <\/div>\r\n <div class=\"stat-cnt\" id=\"stat-cnt-338746771\" data-result_percentage=\"1\">\r\n <div class=\"total-vote-counter\">Total <span>0<\/span> Votes<\/div>\r\n <div class=\"stat-bar-blank\"><\/div><!-- end .stat-bar-blank -->\r\n <div class=\"dislike-count-container\"><i class=\"fa fa-thumbs-o-down icon_dislike_color\"><\/i> <span>0%<\/span><\/div><div class=\"like-count-container\"><i class=\"fa fa-thumbs-o-up icon_like_color\"><\/i> <span>0%<\/span><\/div>\r\n <\/div>\r\n <\/section><section class=\"bwl-pro-voting-feedback-form-container pvm_clearfix\" id=\"pvm_feedback_form_338746771\">\r\n \r\n <h2>B\u1ea1n mu\u1ed1n g\u00f3p \u00fd v\u1ec1 b\u00e0i vi\u1ebft? <\/h2>\r\n\r\n <div class=\"bwl_pro_form_error_message_box\"><\/div>\r\n \r\n \r\n \r\n <p> \r\n <textarea id=\"feedback_message\" class=\"feedback_message_box\" \/><\/textarea>\r\n\r\n <p>\r\n <label for=\"captcha\">Captcha:<\/label>\r\n +\r\n =\r\n \r\n \r\n <span id=\"spambot\"> Verify Human or Spambot ?<\/span>\r\n <\/p>\r\n\r\n <p class=\"pvm_feedback_submit_container\">\r\n \r\n <\/p>\r\n\r\n \r\n\r\n \r\n\r\n <\/section><\/div>\n\t\t\n\t\t\t\n\t\t\n\t\t\t\n\t\t\n\t\t\t\n\t\t\n\t\t\t\n\t\t\n\t\t\t\n\t\t\n\t\t\t<div class='ewd-ufaq-permalink'>\n\t\n\t<a href='https:\/\/help.tcbs.com.vn\/en\/ufaq\/what-do-i-receive-on-the-expiry-date-of-warrants\/?Display_FAQ=37930'>\n\t\t\n\t\t\t\t <div class='ewd-ufaq-permalink-image'><\/div> \t\n\t<\/a>\n\n<\/div>\n\t\t\n\t\t\t\n\t\t\n\t\t\t\n\t\t\n\t<\/div>\n\n<\/div>\n\t<\/div>\n\n\t\n<\/div><\/strong>[\/vc_column_text][\/vc_column_inner][\/vc_row_inner][\/vc_column][\/vc_row]<\/p>\n<section class=\"bwl_pvm_container pvm_clearfix\">\r\n <div class=\"pvm_btn_container pvm_clearfix\" id=\"pvm_btn_container_2029825459\"> \r\n <div class=\"btn_like\" title=\"B\u00e0i vi\u1ebft h\u1eefu \u00edch\" vote_status=\"1\" post_id=\"38812\" bpvm_unique_id=\"2029825459\"><i class=\"fa fa-thumbs-o-up icon_like_color\"><\/i><\/div>\r\n <div class=\"btn_dislike\" title=\"Kh\u00f4ng h\u00e0i l\u00f2ng\" vote_status=\"0\" post_id=\"38812\" bpvm_unique_id=\"2029825459\"><i class=\"fa fa-thumbs-o-down icon_dislike_color\"><\/i><\/div>\r\n <\/div>\r\n <div class=\"stat-cnt\" id=\"stat-cnt-2029825459\" data-result_percentage=\"1\">\r\n <div class=\"total-vote-counter\">Total <span>0<\/span> Votes<\/div>\r\n <div class=\"stat-bar-blank\"><\/div><!-- end .stat-bar-blank -->\r\n <div class=\"dislike-count-container\"><i class=\"fa fa-thumbs-o-down icon_dislike_color\"><\/i> <span>0%<\/span><\/div><div class=\"like-count-container\"><i class=\"fa fa-thumbs-o-up icon_like_color\"><\/i> <span>0%<\/span><\/div>\r\n <\/div>\r\n <\/section><section class=\"bwl-pro-voting-feedback-form-container pvm_clearfix\" id=\"pvm_feedback_form_2029825459\">\r\n \r\n <h2>B\u1ea1n mu\u1ed1n g\u00f3p \u00fd v\u1ec1 b\u00e0i vi\u1ebft? <\/h2>\r\n\r\n <div class=\"bwl_pro_form_error_message_box\"><\/div>\r\n \r\n <form id=\"bwl_pvm_feedback_form\" class=\"bwl_pvm_feedback_form\" name=\"bwl_pvm_feedback_form\" method=\"post\" action=\"#\"> \r\n \r\n <p> \r\n <textarea id=\"feedback_message\" class=\"feedback_message_box\" placeholder=\"Write feedback message ..... \"\/><\/textarea>\r\n\r\n <p>\r\n <label for=\"captcha\">Captcha:<\/label>\r\n <input id=\"num1\" class=\"sum\" type=\"text\" name=\"num1\" value=\"2\" readonly=\"readonly\" \/> +\r\n <input id=\"num2\" class=\"sum\" type=\"text\" name=\"num2\" value=\"6\" readonly=\"readonly\" \/> =\r\n <input id=\"captcha\" class=\"captcha\" type=\"text\" name=\"captcha\" maxlength=\"2\" \/>\r\n <input id=\"captcha_status\" type=\"hidden\" name=\"captcha_status\" value=\"1\" \/>\r\n <span id=\"spambot\"> Verify Human or Spambot ?<\/span>\r\n <\/p>\r\n\r\n <p class=\"pvm_feedback_submit_container\">\r\n <input type=\"submit\" value=\"Submit\" tabindex=\"6\" id=\"submit\" name=\"submit\" bwl_pvm_feedback_form_id= \"pvm_feedback_form_2029825459\" post_id=\"38812\" bpvm_unique_id=\"2029825459\"\/>\r\n <\/p>\r\n\r\n <input type=\"hidden\" name=\"post_type\" id=\"post_type\" value=\"bwl_pro_voting_manager\" \/>\r\n\r\n <input type=\"hidden\" name=\"action\" value=\"bwl_pro_voting_manager\" \/><input type=\"hidden\" id=\"name_of_nonce_field\" name=\"name_of_nonce_field\" value=\"6d8dd40a8c\" \/><input type=\"hidden\" name=\"_wp_http_referer\" value=\"\/en\/wp-json\/wp\/v2\/posts\/38812\" \/><\/form>\r\n\r\n <\/section><\/div>","protected":false},"excerpt":{"rendered":"<p>A What happens to warrant at expiration? If investors hold warrants until expiry: Loss: Investors receive nothing. Break-even: Investors receive<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[696,661,659],"tags":[899,898],"class_list":["post-38812","post","type-post","status-publish","format-standard","hentry","category-knowledge","category-knowledge-of-warrants","category-warrants","tag-determination-of-warrant-profit-and-loss","tag-fees-and-taxes-of-covered-warrants"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Covered Warrants (CW) | TCBS Help<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/help.tcbs.com.vn\/en\/covered-warrants-cw\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Covered Warrants (CW) | TCBS Help\" \/>\n<meta property=\"og:description\" content=\"A What happens to warrant at expiration? 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