
计算conversion ratio时有两个公式,
①conversion ratio=par value/conversion price
②conversion ratio=mkt price of convertible bond/mkt conversion price
如图给的题目条件,答案是用了①式来计算conversion ratio。而且默认
③conversion price=stock price at issue*(1+initial conversion premium),但是讲义上只有④mkt conversion price=mkt price of stock*(1+mkt conversion premium ratio)
我比较困惑的是③式书上没有出现过,是用④式推出来的吗?还是说④式在初始时间点上其实就是③式的形式?