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Convertible Bond Value
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zerocoupon
coupon payment
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coupon plus put and call
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140
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180
170
160
150
140
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120
110
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5
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160
140
120
100
80
60
1
0
Time
40
20
Stock Price
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120
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160
150
140
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120
110
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160
140
120
100
80
60
1
0
Time
40
20
Stock Price
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120
100
80
60
40
20
0
5
4
160
140
120
100
80
60
1
Time
40
20
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160
150
140
130
120
110
100
5
4
160
140
120
100
80
60
1
0
Time
40
20
Stock Price
#=$&HG>7CICIJLK2*M$ON7+*MP;-0/
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120
100
80
60
40
20
0
5
4
160
140
120
100
80
60
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Time
40
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120
100
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