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 ?
Sales volumes finally hit the original target of 1,000 last year, driven largely by the addition of the all-new convertible, the Phantom Drophead Coupe, which is sold out through 2009.
The Goodwood-produced luxury executive is powered by a 6.75-litre V12 engine producing 453bhp and is 25 per cent more powerful than the Drophead coupe.
I have just done a tour of the expansive Rolls-Royce factory at Goodwood and now I have been let loose in the company's newest product, the Phantom Drophead Coupe. As the name suggests, it is a drop top and the fact that it isn't raining is enough of an excuse to put the top down.
The occasion was marked by the Ukrainian debut of the new Phantom Drophead Coupe, the latest addition to the Rolls-Royce model range.
TOKYO - Rolls-Royce plc unveiled its new, four-seat convertible, Phantom Drophead Coupe in Japan on Thursday, the first new convertible model of the prestigious British brand to be rolled out in the country since 2002.
Yes we could." And, as the chief designer of Rolls-Royce Motor Cars notes, that experiment has become reality with the Phantom Drophead Coupe, a two-door, four-seat convertible, the second model to come from Rolls-Royce since the BMW Group acquired the marque in July 1998, with the first being the Phantom sedan, launched in January 2003.
MoT certificates issued in May 1970 and then April 1980 showed that the 3.5-litre Vanden Plas Drophead Coupe had done 15,030 and 15,195 miles respectively.
Customers have already purchased the entire run of 50 final Phantom Coupe and Drophead Coupe Zenith Collection cars that were unveiled less than two months ago.
* Mohamed Yousuf Naghi Motors, the sole authorized dealer of Rolls-Royce Motor Cars in Saudi Arabia, is celebrating the arrival of the Phantom Zenith Collection, which represents some of the very last Phantom Drophead Coupe and Phantom Coupe motor cars ever to be built.
The Daimler DB18 Drophead Coupe will star in Coy's auction of historic motorcars at the Blenheim Palace auction in Woodstock, near Oxford.
A world-record selling price is set to be smashed by a 1954 Lagonda Three-Litre Drophead Coupe (DHC) that was ordered by HRH The Duke of Edinburgh and driven by him until 1961.