A financial instrument that can be exchanged for another security or equity interest at a pre-agreed time and exchange ratio. Bloomberg Financial Dictionary
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convertible con‧ver‧ti‧ble [kənˈvɜːtbl ǁ -ɜːr-] adjective
able to be changed from one thing to another:
• The new preferred shares will be convertible immediately to common shares.
— convertibility noun [uncountable] :
• The step toward currency convertibility is part of an attempt to move to a free market.
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Ⅰ.
convertible UK US /kənˈvɜːtəbl/ adjective FINANCE, STOCK MARKET
► able to be changed from one thing to another: convertible into/to sth »
Each preferred share is convertible into 1.95 shares of Common Stock.
Ⅱ.
convertible UK US /kənˈvɜːtəbl/ noun [C] FINANCE, STOCK MARKET
► a type of share, bond, etc. that can be exchanged for another type of share: »
Citigroup are expected to invest about $400 million in convertibles and Asian securities.
Financial and business terms. 2012.