Day trading future – Share Privilege Securities”Convertible Bonds, Convertible Preferreds, and Warrants So far we have gone into some detail about debt securities”bonds and debentures”and equities, namely, preferred and common stock.
But the entire roster of marketable securities doesn't stop there. The imaginations of lawyers and financiers have dreamed up some hybrids that start out as one thing and may wind up as something else. These split-personality securities are called convertibles. The most common and popular variety is the convertible bond or debenture, so we'll talk about that first. A convertible debenture has all the characteristics of any other long-term bond”$1,000 denomination, a regular interest rate, a fixed maturity date, and semi-interest coupons. But it also has something else”a conversion privilege.
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