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Liquid Yield Option Note |
Also found in: Acronyms | 0.02 sec. |
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Liquid yield option note (LYON) Liquid Yield Option Note A convertible, callable, and putable zero-coupon bond. A LYON is a bond that is convertible to common stock and may be bought or sold as an option, but which does not pay interest. Because it pays no interest, it is issued at a considerable discount from par value of the bond. This guarantees a positive return to the investor, at least until such time as it becomes profitable for the investor to put the bond back to the issuing company for an amount over the issue price. Generally, the total return on a LYON is less than that of the company's common stock ? assuming the company does well. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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The biotech giant offered to purchase the liquid yield option notes, known as LYONs, that were due in 2032 at nearly 74 cents on the dollar. 625% convertible debentures 7,306 7,306 - - Liquid Yield Option Notes 574 574 - - --------- --------- -------- --------- Weighted-average common shares outstanding, plus impact from assumed conversions 205,008 205,008 186,813 186,813 ====================================== Basic earnings (loss) per share from continuing operations $0. 625% convertible debentures - - 7,306 7,306 Liquid Yield Option Notes - - - 5,228 --------- --------- --------- --------- Weighted-average common shares outstanding, plus impact from assumed conversions 186,813 186,813 200,567 205,795 ======================================= Basic earnings (loss) per share from continuing operations $(0. |
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