convertible bond

noun
a bond that can be exchanged for a fixed number of shares of the common stock of the issuing company at the holder's option.
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Based on the Random House Dictionary, © Random House, Inc. 2014.
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Example sentences
Convertible bond funds are still a decent idea for the bruised investor.
They are particularly active in the convertible bond market and the credit derivatives market.
Convertible bond funds, which are linked to the equity markets, have turned in an admirable performance.
In the case of a convertible bond, debenture or preferred stock, the price includes the conversion price.
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