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Contingent Convertible Bond |
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Contingent Convertible Bond A convertible bond in which the price of the underlying stock must reach a certain level before conversion is allowed. All convertible bonds have a conversion price ? the price one pays in order to exchange the bonds for stocks. Contingent convertible bonds, however, have a second, higher price that the underlying stock must meet before a bondholder is allowed to convert. For example, the conversion price for a convertible bond may be $10 per share, but if the stock price is below $20 per share, the investor may not convert the bond. It is informally known as a CoCo. 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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6 billion bond issue--including a $4 billion chunk of so-called contingent convertible bonds that will reinforce its pension plan--guys in the green eyeshades asked themselves: Is this a way to slay the pension monster? |
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