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YEN

It stands for yield-enhanced note; a type of mandatory convertible preferred which is typically issued at a zero premium and...

Yield-Enhanced Note

A type of mandatory convertible preferred which is typically issued at a zero premium and a preset cap on capital...

ITM Convertible

A convertible that is in the money, i.e., it has its actual share price above the conversion price. As share...

In-The-Money Convertible

A convertible that has its actual share price above the conversion price. As share prices increase, a convertible tends to...

Synthetic Convertible

A convertible that combines the features of both fixed-income debt and OTC options. In other words, this instrument consists of...

Lock-Up Reverse Convertible

A reverse convertible that is subject to a knock-out barrier and involves the sale (writing) of a knock-out put by...

Toxic Convertible Bond

A convertible bond in which the conversion price is not predetermined but is kept floating. This bond converts into the...

Bond Floor of a Convertible

The value of a convertible bond (CB) without its conversion feature, i.e., only as a straight bond. The bond floor...

Downside Gamma

The change in the delta of a convertible with a given downward move in the underlying share. It is typically...

Investment Value of a Convertible

The value of a convertible bond (CB) without its conversion feature, i.e., only as a straight bond. The investment value...