Exchange Currency

premium adjustable convertible security (PEACS)

A bond with a conversion option allowing the investor to exchange it for common stock at a specific price on a predetermined future date. If the conversion option is not exercised, the investor continues to receive interest and principle payments until the original investment has been recouped.

Related information about premium adjustable convertible security (PEACS):
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  8. premium [stocks]
    Premium Adjustable Convertible Security - PEACS — A debt instrument that combines a coupon paying bond with the option to convert the bond into common ...