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Parity Value

The market value of the shares of common stock into which a convertible can be exchanged. This value is equal...

Convertible Par

The face value of a convertible, i.e., the value that a holder redeems at maturity. The market price of a...

Debt Security

A financial asset whose owners/ holders are entitled to receive- from the other party, i.e., a borrower/ issuer, a stream...

Yield To Average Life

The yield which is calculated using the point at which half of the bonds (known as sinking fund bonds) in...

Yield Advantage

For a convertible bond, it is the excess of running (current) yield over equity dividend yield: Convertible yield advantage =...

Yield Spread

The difference in yield to maturity (YTM) between two bonds (bond issues) or two classes of bonds with similar maturities....

Yield Ratio

The quotient of two bond yields, i.e., the ratio of the yield on some bond to the yield on a...

Option-Adjusted Convexity

A measure of a bond's convexity which takes into account the convexity of options embedded within the bond. It captures...

Option-Adjusted DV01

With respect to bonds, it is the bond dollar value of one basis point (0.01%) adjusted with an embedded option...

OADV01

It stands for option-adjusted DV01. With respect to bonds, it is the bond dollar value of one basis point (0.01%)...