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.
noun 1. any form of life or health insurance, either individual or group, that enables the insured to change or convert the insurance to another form, as term to whole life insurance or group to individual health insurance.
noun 1. a convertible bond that is not secured with collateral.
noun 1. preferred stock that can be exchanged for a fixed number of shares of the common stock of the issuing company at the holder’s option.
noun, Photography. 1. a lens containing two or more elements that can be used individually or in combination to provide a variety of focal lengths.