Which of the following statements about warrants and convertibles is false?

a. Both warrants and convertibles are types of option securities.

b. One primary difference between warrants and convertibles is that warrants bring in additional funds when exercised, while convertibles do not.

c. The coupon rate on convertible debt is lower than the coupon rate on similar straight debt because convertibles are less risky.

d. The value of a warrant depends on its exercise price, its term, and the underlying stock price. e. Warrants usually can be detached and traded separately from their associated debt.