What does it mean when a car is convertible?
What does it mean when a car is convertible? a car whose top can be folded back or removed so that there is no roof. A convertible is also a sofa (= long, soft seat) that can be folded out to make a bed. (Definition of convertible from the Cambridge Academic Content Dictionary © Cambridge University Press) What makes a convertible bond a convertible security? As a hybrid security, the price of a convertible bond is especially sensitive to changes in interest rates, the price of the underlying stock, and the issuer's credit rating . A convertible bond pays fixed-income...