NO.PZ2018123101000097
问题如下:
Selected data for the convertible bond is presented below:
The market conversion premium per share for the DE bond on 17 September 20X5 is closest to:
选项:
A. € 0.90.
B. € 2.13.
C. € 2.53.
解释:
B is correct.
考点:考察Convertible bond的相关概念
解析:
每股市场转换溢价等于市场转换价格减去标的股票股价;
Market conversion premium per share =Market conversion price- underlying share price
而Market conversion price等于可转债的价格除以转换比率Conversion ratio;
而Conversion ratio与initial conversion price是期初Convertible bond发行时文件里约定的,等于Conversion ratio等于债券的Par Value除以Initial conversion price(本题是1000/10)
所以有Market conversion price:
所以Market conversion premium per share = 11.23 – 9.10 = 2.13
表格中conversion price因为control变成8了,为什么conversion ratio不变