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 ?
This included just under 100,000 domestically built convertibles - a whopping 64 percent increase over the previous year - the best year for ragtops since 1969.
TOPLESS STUNNER: BMW's 6 Series convertible; STYLE: Aston Martin's ragtop will arrive here in spring
Starting out just above $20,000 and fully loaded for around $27,000, this remains among the rare ragtops that can actually fit four and offer enough trunk space for a tolerable vacation.
A '66 Monza Spyder ragtop with the 140-hp engine is right perky, and a good #3/#4 goes for $4,500.
Imagine thousands of MINI ragtop owners, roof off, smiling if not singing in the rain .
There was also a convertible version but this is quite rare as it was silly money when it was new although some ragtop Celicas are making their way over from Japan second-hand these days.
It looks pretty good with the ragtop in place, but one press of the button and the car transforms itself and the process is vaguely reminiscent of that classy Citroen Transformer advert.
She used to tool around in a Chrysler LeBaron before switching to the white Solara with a tan ragtop four years ago and plans on keeping the Toyota when the lease comes up next year.
Herbie, the 1963 Volkswagen Beetle Ragtop Sedan from the 1968 Disney film The Love Bug comes seventh, with The Batmobile - a modified Lincoln Futura which was customised to look like a bat face - at eight.
Chrysler's hot-selling Sebring ragtop and the Mercedes-Benz CLK.
Midway through the '80s, Chrysler reintroduced the convertible with the compact LeBaron, and the little ragtop was an instant success.
Hey, if you really wanted to check out the sky you could specify the ragtop for about the same price.