You have a match play coupon for $100. You also have a $100 chip. You bet the coupon along with the $100 chip. After your first two cards are dealt, you decide to surrender. They take your coupon and you keep your chip. You have broken even. You bet the coupon and the chip and got zero back for your bet. This is a MPR coupon which you would lose regardless of the outcome of the hand.
FWIW, I'm running a sim using this model as we speak in order to generate the adjusted basic strategy for S17 DAS and it is converging on the same strategy variations that Grosjean published in his article, including for surrender.
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