Super Finance Glossary
Over 10,000 financial glossary terms...
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Conversion
Definition: In the context of securities, refers to the exchange of a convertible security such as a bond into stock.
In the context of mutual funds, refers to the free exchange of mutual fund shares from one fund to another in a single family.
Definition: In the context of securities, refers to the exchange of a convertible security such as a bond into stock.
In the context of mutual funds, refers to the free exchange of mutual fund shares from one fund to another in a single family.
Conversion Factors
Definition: Rules set by the Chicago Board of Trade for determining the invoice price of each acceptable deliverable Treasury issue against the Treasury Bond futures contract.
Definition: Rules set by the Chicago Board of Trade for determining the invoice price of each acceptable deliverable Treasury issue against the Treasury Bond futures contract.
Conversion Feature
Definition: Specification of the right to transform a particular investment to another form of investment, such as switching between mutual funds or converting preferred stock or bonds to common stock.
Definition: Specification of the right to transform a particular investment to another form of investment, such as switching between mutual funds or converting preferred stock or bonds to common stock.
Conversion Parity/value
Definition: Applies mainly to convertible securities. Common stock price at which a convertible bond can become exchangeable for common shares of equal value; value of a convertible bond based solely on the market value of the underlying equity. Par value plus conversion ratio. See bond value, investment value, parity.
Definition: Applies mainly to convertible securities. Common stock price at which a convertible bond can become exchangeable for common shares of equal value; value of a convertible bond based solely on the market value of the underlying equity. Par value plus conversion ratio. See bond value, investment value, parity.
Conversion Period
Definition: The time period during which an investor can exchange a convertible security for common stock.
Definition: The time period during which an investor can exchange a convertible security for common stock.
Conversion Premium
Definition: The extent by which the conversion price of a convertible security exceeds the prevailing common stock price at the time the convertible security is issued. In general usage, the conversion premium is the amount by which the convertible security trades above its conversted value. For example, if a $1,000 par bond is trading at $1,100, it is convertible into 50 shares, and the shares are trading at $21, the converted value is 50 X 20.50 = $1,025, and the conversion premium is $75.
Definition: The extent by which the conversion price of a convertible security exceeds the prevailing common stock price at the time the convertible security is issued. In general usage, the conversion premium is the amount by which the convertible security trades above its conversted value. For example, if a $1,000 par bond is trading at $1,100, it is convertible into 50 shares, and the shares are trading at $21, the converted value is 50 X 20.50 = $1,025, and the conversion premium is $75.
Conversion Price
Definition: Applies mainly to convertible securities. Dollar value at which convertible bonds, debentures, or preferred stock can be converted into common stock, as specified when the convertible is issued.
Definition: Applies mainly to convertible securities. Dollar value at which convertible bonds, debentures, or preferred stock can be converted into common stock, as specified when the convertible is issued.
Conversion Ratio
Definition: Applies mainly to convertible securities. Relationship that determines how many shares of common stock will be received in exchange for each convertible bond or preferred stock when a conversion takes place. It is determined at the time of issue and is expressed either as a ratio or as a conversion price from which the ratio can be figured by dividing the par value of the convertible by the conversion price.
Definition: Applies mainly to convertible securities. Relationship that determines how many shares of common stock will be received in exchange for each convertible bond or preferred stock when a conversion takes place. It is determined at the time of issue and is expressed either as a ratio or as a conversion price from which the ratio can be figured by dividing the par value of the convertible by the conversion price.
Conversion Value
Definition: The value of a convertible security if it is converted immediately. Also called parity value or converted value.
Definition: The value of a convertible security if it is converted immediately. Also called parity value or converted value.
Convertibility
Definition: The ability to exchange a currency without government restrictions or controls.
Definition: The ability to exchange a currency without government restrictions or controls.
Convertible
Definition: A financial instrument that can be exchanged for another security or equity interest at a pre-agreed time and exchange ratio.
Definition: A financial instrument that can be exchanged for another security or equity interest at a pre-agreed time and exchange ratio.
Convertible 100
Definition: Goldman Sachs index of the 100 convertibles of greatest institutional importance. Weighted by issue size, it measures the performance of its components against that of their underlying common stock and against other broad market indexes as well.
Definition: Goldman Sachs index of the 100 convertibles of greatest institutional importance. Weighted by issue size, it measures the performance of its components against that of their underlying common stock and against other broad market indexes as well.
Convertible Adjustable Preferred Stock (Caps)
Definition: The interest rate on caps is adjustable and is pegged to Treasury security rates. They can be exchanged at par value for common stock or cash after the next period's dividend rates are revealed.
Definition: The interest rate on caps is adjustable and is pegged to Treasury security rates. They can be exchanged at par value for common stock or cash after the next period's dividend rates are revealed.
Convertible Arbitrage
Definition: In the context of hedge funds, a style of management that involves the simultaneous purchase of a convertible bond and the short sale of shares of the underlying stock. Interest rate risk may or may not be hedged.
Definition: In the context of hedge funds, a style of management that involves the simultaneous purchase of a convertible bond and the short sale of shares of the underlying stock. Interest rate risk may or may not be hedged.
Convertible Bond
Definition: General debt obligation of a corporation that can be exchanged for a set number of common shares of the issuing corporation at a prestated conversion price.
Definition: General debt obligation of a corporation that can be exchanged for a set number of common shares of the issuing corporation at a prestated conversion price.
Convertible Eurobond
Definition: A eurobond that can be converted into another asset, often through exercise of attached warrants.
Definition: A eurobond that can be converted into another asset, often through exercise of attached warrants.
Convertible Exchangeable Preferred Stock
Definition: Convertible preferred stock that may be exchanged, at the issuer's option, into convertible bonds that have the same conversion features as the convertible preferred stock.
Definition: Convertible preferred stock that may be exchanged, at the issuer's option, into convertible bonds that have the same conversion features as the convertible preferred stock.
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