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Exact(4)
The bonds, with conversion prices in the low $20's, are trading well below what investors paid for them.
So even though the conversion prices are as high as $37.24 per share, it's reasonable to assume that the value these deals place on Citi's common is about what it fetched when the deals were being negotiated -- the high $20s and low $30s.
The figures below show the main components of Tesla's long-term debt, including maturities and conversion prices for those notes that include a conversion feature.
Fortune recently ran an article on convertible bonds and accompanied it with a table demonstrating that stock prices were far below conversion prices.
Similar(56)
The conversion price will be $8.50 a share.
The conversion price on that issue would be reduced to $5.50 under this plan.
As a minimum we suspect 915p would be required (the conversion price of the convertible).
The company might just have to pay a conversion price to fit within new standards.
The bonds can be converted to common shares at a specified price, known as the conversion price.
In other words, it is selling for more than twice the conversion price of the proposed note issue.
Nor have they provided terms for the dividend or the "modest discount" to the conversion price of their investment.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com