Convertible Preferred Bonds¶
Format¶
CONVP:<TICKER> <MATURITY DATE> <COUPON> <PAR> <PRICE> <STRIKE>
Examples¶
| Symbol |
|---|
CONVP:JONE 20220929 8 50 39.0 2.9294 |
Not real bonds. Used for illustrative purposes.
Fields¶
| Parameter | Required | Description |
|---|---|---|
<TICKER> |
Yes | Ticker for the convertible preferred issuer (US only) |
<MATURITY DATE> |
Yes | String in YYYYMMDD format indicating the maturity date for the convertible |
<COUPON> |
Yes | The coupon for the convertible, expressed as a percent amount |
<PAR> |
Yes | The par amount per convertible preferred |
<PRICE> |
Yes | The convertible price |
<STRIKE> |
Yes | The convertible strike, expressed as a stock price |
<RATING> |
No | The bond rating in S&P syntax (e.g., AA, BBB+). Used when the issuer curve is not available or multiple ratings exist for an issuer, e.g., CONVP:JONE 20440317 7.25 99.396 BB- |
Quantity should be provided as the number of shares and price as an absolute price (not % of par), consistent with market convention. For example, JONE 8% Pfd., 50 par, 8% of par annual dividend, 38.5 price, converts into 17.068 shares (= 50 / 2.9294).