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Reverse Convertible Note

   Also found in: Dictionary/thesaurus, Acronyms, Wikipedia 0.01 sec.
Reverse Convertible Note
A security that combines aspects of a stock and a bond. An RCN operates like a debt security that pays a fixed coupon, which is usually higher than the coupons for regular bonds. At maturity, the holder may choose to receive a certain amount of stock or cash equal to the value of that stock. RCNs allow the investor to diversify his/her portfolio while only incurring the expense of a single investment vehicle.


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In this capacity he contributed to the group's strong year-over-year growth by expanding the firm's Reverse Convertible Note (RECON) business.
70% reverse convertible notes series 26 due July 12, 2001, linked to the ordinary shares of Canon Inc.
 
 
 
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