Exchangeable instrument

Applies mainly to convertible securities. Bond or preferred stock that may be exchangeable into the common stock of a different public corporation.

Convertible Security

A bond or preferred stock that may be exchanged for common stock in the company issuing the exchangeable security at a certain ratio and/or a certain price. A convertible security gives the holder a great deal of flexibility. It reduces risk by guaranteeing a coupon payment or dividend while also allowing the holder to take advantage of a potentially larger return through the ability to convert the security to common stock. It is less commonly called an exchangeable security. See also: Convertible Option.

单词	exchangeable instrument
释义	DictionarySeeconvertible security Exchangeable instrument Exchangeable instrument Applies mainly to convertible securities. Bond or preferred stock that may be exchangeable into the common stock of a different public corporation. Convertible Security A bond or preferred stock that may be exchanged for common stock in the company issuing the exchangeable security at a certain ratio and/or a certain price. A convertible security gives the holder a great deal of flexibility. It reduces risk by guaranteeing a coupon payment or dividend while also allowing the holder to take advantage of a potentially larger return through the ability to convert the security to common stock. It is less commonly called an exchangeable security. See also: Convertible Option.
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