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A federal health insurance program for persons 65 years of age and older is
Convertible Bond
A bond which allows conversion into a specified amount of the issuing company's stock, often at the choice of the holder.
Conversion Ratio
The specific quantity of shares an investor can receive for each convertible security if they choose to convert it into equity.
Pay-in-Kind Bond
A bond that pays interest in the form of additional bonds or securities instead of cash, often used by companies seeking to preserve cash flow.
Interest
The charge for borrowing money, typically expressed as an annual percentage rate, or the income earned from lending money.
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