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Define a Convertible Bond
A convertible bond issue permits the investor to exchange the bond for a pre-defined number of equity shares of the issuer. The convertible bond’s floor value is its straight fixed-rate bond value. Convertibles generally sell at a premium above the larger of their straight debt value and their conversion value. In addition, investors are generally willing to accept a lower coupon rate of interest as compared to the comparable straight fixed coupon bond rate because they find out the call feature attractive. Bonds along with equity warrants can be viewed like a straight fixed-rate bond along with the addition of a call option (or warrant) feature. The warrant allows the bondholder to purchase a fixed number of equity shares in the issuer at a pre-stated price over a pre-determined period of time.
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Will you please give the defination of "Future Value Of An Annuity"?
A bond is said to be currently callable if the issue is not protected against early call provision. But most new bond issues, even if currently callable, us
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