Exchangeable instrument

Definition:

Applies mainly to convertible securities. Bond or preferred stock that may be exchangeable into the common stock of a different public corporation.

Investing Essentials


Copyright © 2011 Campbell R. Harvey, Professor of Finance, Fuqua School of Business at Duke University

Term of the Day

Lapsed option

An option that no longer has any value because it has reached its expiration date without being exercised.

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