Here's a chart of the ratios - what you get depends on which bond you have.
http://www.wilmingtontrust.com/gmbondholders/pdf/april212011distributionsummary.pdf (sorry I don't know how to hyperlink this)
As for the warrants - unless there is some term deeper in the prospectus, warrants are long term call options. Rather than expiring in just a few months like normal calls do, these don't expire till July 2016 and 2019, respectively. I also read (in an article) that they entitle you to buy 1 share of GM stock at $10 or $18.33 respectively thru those expiration dates. That is different than a normal call option which control 100 shares, not just one.
My 10000 gm bonds (june 2009's) were swapped in my state street 401K today. The numbers are consistent with what I've read from other folks here. The warrants are gmswa and gmswb - but I don't see them trading yet.
Just got mine! I had 1000 bonds (bought at $2.10) and here is what I got:
GM 97 shares shows 30.44
GM+A 88 Shares @ $21.53
GM+B 88 shares @ $16.33
Sad thing is my bond purchase was worth $6580 this am and now there is a -$300 difference with what I have in new value with the shares. lil' guy screwed again. In 24 hours I lost $600 in bond value! really sucks. was not what I expected!
We will get a further distirbution later in the year as other claims are resolved.
That distribution coule be 33% of intial distribution (in very best case) or on down to 0.
So, you will get more and my bet is that will be more than the $600 difference. No idea how much more. That is why you have the escrow position in your account, best, patch