Copyright © 2012, Campbell R. Harvey. All Rights Reserved.
In convertible security, the value of the security itself (usually a bond or preferred stock) without considering the fact that it may be converted to common stock. That is, the straight value is the value of a convertible bond less the value of the conversion option. It is also called the bond value or the investment value.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved