convert

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Convert

To change a convertible security into the underlying security. For example, if one converts a convertible bond for Johnson & Johnson, one exchanges the bond for the agreed-upon number of common shares in Johnson & Johnson. See also: Conversion option, Conversion price.

convert

To exchange one security for a different security. For example, the owner of a convertible bond can choose to submit the bond to the issuer for conversion into a specified number of shares of stock.