All of the Following Are Normal Characteristics of a Convertible

question 105

Multiple Choice

All of the following are normal characteristics of a convertible bond, EXCEPT

• A) conversion at the option of the issuer.
• B) conversion into a fixed number of shares of common stock.
• C) a conversion price initially above the market price of the common stock.
• D) an interest rate lower than that on straight debentures.
• E) subordination.

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