| 摘要 |
A contingent convertible financial instrument which includes a bond portion and an embedded option portion. The bond portion is redeemable at a maturity date similar to a traditional bond. The embedded option portion is exercisable, within a specified time period after the value of the shares of stock reaches a target value, for shares of stock in the entity issuing the bond portion in an amount equal to the difference between an early exercise value and a value of the stock on the date that the embedded option portion is exercised. In contrast to traditional convertible bonds, the exercising of the embedded option portion does not extinguish the bond portion. Methods of providing, trading and using such a convertible financial instrument are also described.
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