NO.PZ2023120801000014
问题如下：
Assume that a convertible bond has a par value of $1,000,000 and is currently priced at $1,100,000. The underlying share price is $40,000 and the conversion ratio is 25:1. The conversion condition for this bond is:
选项：
A.Parity
Above parity
Below parity
解释：
Correct Answer: C
The conversion value of the bond is 40,000 x 25 = $1,000,000. The price of the convertible bond is $1,100,000. Thus, the conversion value of the bond is less than the bond's price, and this condition is referred to as below parity.
在强化课里有一个conversion ratio = convertible bond par value / conversion price; conversion value = conversion ratio * current share price
想问这里的conversion price指的是什么？
然后可见后面有一个share price和conversion price的比较，比较厚的结果又都分别指的是什么意思？
