Convertible

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Convertible

A financial instrument that can be exchanged for another security or equity interest at a pre-agreed time and exchange ratio.

Convertible

A bond or preferred stock that may be exchanged for common stock in the company issuing the convertible 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 potential, larger return through the ability to convert the security. See also: Convertible option.

convertible

Convertible

A bond or preferred stock that may, under specified conditions, be exchanged for common stock or another security, usually of the same corporation.
References in periodicals archive ?
Two coloured men drove through the city centre the other night in a top-of-the- range BMW convertable.
During the first quarter of 2005, 316,251 Exchangeable Shares were converted into 400,000 Trust units and 17,747 were redeemed for cash leaving 422,650 Exchangeable Shares outstanding at March 31, 2005 which are convertable into 539,147 Trust units.
Large garage, convertable to en-suite fourth bedroom.
Mr Hutchby and a partner owned the stores 100 per cent under an Alldays franchise but Alldays plc had convertable loan stock in the company which meant they could become 50 per cent shareholders.
For you might be better off buying extendible or convertable cover which allows you to run the policy longer or take extra cover without having to take a fresh medical examination.