Fixed-income equivalent

Also called a busted convertible, a convertible security that is trading like a straight security because the optioned common stock is trading low. The New York Times Financial Glossary

Financial and business terms. 2012.

Look at other dictionaries:

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  • Busted convertible — Related: Fixed income equivalent. The New York Times Financial Glossary * * *    A convertible issue of little value because the underlying stock has fallen below the conversion price.    ► See Convertible Bond, Convertible Preference Share …   Financial and business terms

  • busted convertible — A convertible bond trading so far below its conversion value that it trades on investment value alone, meaning it has value only as a bond. It has essentially no equity value. American Banker Glossary Related: fixed income equivalent. Mainly… …   Financial and business terms

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