为什么expected div=0.7 grater than threshold div=0.5时， 就得将可转债的价格下调？不理解
李宗_品职助教 · 2018年02月25日
你好童鞋，只要可转债没有被转换成股票，那么持有债券期间的股票发放的股利可转债的投资者是无法获得的。因此他们通过调整可转债价格来为投资者提供一定的补偿。通常情况下我们会设定一个股利发放门槛，当公司发放的股利大于门槛时，下调可转债价格来作为补偿。
The terms of issuance may offer no compensation to convertible bondholders for dividends paid out during the life of the bond. Typically, a threshold dividend is defined in the terms of issuance. Annual dividend payments below the threshold dividend have no effect on the conversion price. In contrast, the conversion price is adjusted downward for annual dividend payments above the threshold dividend to offer compensation to convertible bondholders.